Cryptocurrency YouTuber ClayBro reveals more than 8 trillion coins in a recent video. Shiba Inu He expressed his opinions after his token was withdrawn from the stock exchanges.
According to the analyst, the movement of the digital asset may cause a change in investors’ preferences. The analyst went on to counter long-standing narratives that asset movements away from exchanges are a bullish sign, while transfers into exchanges signal a sell signal.
ClayBro also argued that the withdrawal of tokens worth an estimated $88 million could be a bearish sign. The analyst said this would be the case if investors thought centralized exchanges would go bankrupt.
ClayBro said that rather than withdrawn tokens, what the community should be most excited about is the Shiba Inu getting more attention. In addition, he added, the project has also seen an increase in search volume as SHIB’s trading volume continues to rise.
Koinfinans.com As we reported, the analyst explained that two catalysts are driving the positive development seen around the project. First, the analyst generally cryptocurrency He cited growing confidence in the market, which has since seen major tokens hit new annual highs.
The analyst also cited Shibarium as the project’s second growth driver. meme coin He pointed to their neighbors. However, the analyst noted that the burn rate has decreased significantly recently.
Meanwhile, ClayBro emphasized that SHIB’s leader, alias Shytoshi Kusama, plans to burn 99.9% of the tokens and that this depends on the collective community effort. The analyst emphasized that the plan will only work if everyone commits to burning tokens.