ICYMI: more than 711 million $SHIB were sent to dead wallets in the past week SHIB ShibaInu SHIBArmy
Also, recently the burning of 6,000,000 SHIB tokens in two transactions was reported. Also, that of 4,000,000 SHIB and 1,999,999 SHIB transferred to a dead wallet in two separate transactions was reported.As seen on the 4-hour chart, Shiba Inu has demonstrated a breakout above the July 20 high of $0.0000131, posting two massive four-hourly candles in the last eight hours. If Shiba Inu sustains its present rally, the price might rally quite sharply towards $0.
At the time of publication, Shiba Inu was outperforming its rival, Dogecoin, in terms of gains, up 24% at $0.0000155. According to analysts, Shiba Inu may continue in this trend if the breakout presented by an inverse head and shoulders pattern on its daily chart with a target price of $0.000051 is confirmed.
An inverse or reverse head and shoulders pattern often signals that a downward trend is about to reverse into an upward trend. However, this remains speculative based on the prevalent macroeconomic uncertainty in the crypto market. In the past week, the developers behind Shiba Inu announced that Shiba Eternity was available for early testing in Vietnam, which sparked positive expectations.
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