Also known as the “Dogecoin killer” Shiba Inumanaged to gain up to 6% value in the past day. It is noteworthy that this rise came while there was a decline in the cryptocurrency market, especially its important competitors such as DOGE and PEPE.
The crypto analyst, known by the username AlanSantana, shared his views on the course of the SHIB price and ran a remarkable prediction model.
According to the analyst, the Shiba Inu price will register a typical expected correction. While a similar one was recorded in August, the price retreated for two months. Similarly, there is a lower peak in December, which could trigger another correction lasting 3-9 weeks.
The analyst added: “June – August = Bull Wave. August – October = Bear Wave. October – December = Bull Wave. December – February = Bear Wave. Long-term growth is then likely to continue, but pullbacks, jolts, price swings and corrections will continue to occur.”
Shiba Inu network’s Layer-2 scaling solution Shibarium continues to show strong growth in terms of transaction activity. These transactions amount to 8.2 billion SHIB Contributed to burning the token. The daily burn rate provided more limited data, resulting in a 61% increase.