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Santiment analytics aggregator has released a report about Ethereum and to other notable altcoins – Shiba Inu and Chainlink.
The data it shared shows that a positive move on the market has just happened for bullish traders of these three cryptocurrencies.
Bullish $SHIB, $ETH and $LINK sign revealed by Santiment
The tweet published by the aforesaid data source earlier today shows that the supply of $SHIB, $LINK, and $ETH held by whales on cryptocurrency exchanges has drastically shrunk since May 27.
The top ten wallets on these networks have seen their holdings plunge – $SHIB went down by 2.4%, $LINK dropped by 2.9%, and $ETH decreased by 8.6%.
The analytics team of Santiment underscored that decreasing exchange supplies are generally believed to be “a long-term bullish sign” for traders.
🐳 The top 10 exchange wallets on the #ShibaInu, #Chainlink, and #Ethereum networks, respectively. Since May 27th, their holdings have shrunk by:
— Santiment (@santimentfeed) June 13, 2024
📉 $SHIB: -2.4%
📉 $LINK: -2.9%
📉 $ETH: -8.6%
Decreasing exchange supplies should be considered a good sign for bullish traders. 👍 pic.twitter.com/MbrSKaFF8s
$SHIB burn rate soars by over 1,000%
The Shibburn analytics platform focused on Shiba Inu burn transactions has shared that within the last 24 hours, the burn rate of this popular meme cryptocurrency has seen a notable increase of 1,460.86%.
In the past 24 hours, there have been a total of 110,885,723 $SHIB tokens burned and 7 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #$SHIB tokens burned, circulating supply, and more. pic.twitter.com/SaItvyEBDZ
— Shibburn (@shibburn) June 14, 2024
There has been seven burn transfers conducted so far, according to the data shared by this wallet tracker. In total, the $SHIB community has managed to dispose of 110,885,723 Shiba Inu meme coins. Nearly all of this amount was burned in a single transfer made by an anonymous whale with 100,000,000 $SHIB gone into an unspendable blockchain wallet forever.