Shiba Inu (CRYPTO: SHIB) is seeing a significant uptick in on-chain activity and surging burn rates even as prices consolidate.
| Cryptocurrency | Price | Market Cap | 24-Hour Trend | 7-Day Trend |
| Shiba Inu (CRYPTO: SHIB) | $0.00001163 | $6.9 billion | -2.9% | +6.2% |
| Dogecoin (CRYPTO: DOGE) | $0.1534 | $22.8 billion | -4.07% | -5% |
| Pepe (CRYPTO: PEPE) | $0.057127 | $2.99 billion | -3.2% | -12.4% |
Trader Notes: Crypto trader Javon Marks remains bullish, stating that SHIB’s first major breakout target sits over 550% higher at $0.000081.
Meanwhile, Crypto Sheriff noted SHIB is at a “good level to take risks,” suggesting the recent consolidation at key support could spark a fresh uptrend wave.
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Statistics: Shiba Inu’s burn rate jumped 239.8%, with 70.88 million SHIB removed from circulation in the past day. Notably, 60.5 million SHIB were burned in a single transaction roughly ten hours ago, according to Shibburn data.
IntoTheBlock data shows large transaction volume increased 5.1% and daily active addresses spiked 39.9% in a single day. Transactions greater than $100,000 increased from 36 to 50.
Shiba Inu’s concentration by large holders remains at 74%, implying long term stability and traders’ confidence in its performance.
Shibariumscan data shows daily transactions having jumped from 3.03 million as of April 14 to 4.28 million as of April 15.
New Shibarium accounts have increased from 133 to 183.
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