Why Shiba Inu [SHIB] community should be hopeful for Q4 2022

ambcrypto.com:

Shiba Inu holders are finally getting some relief after their token became the latest victim of the crypto slide.

One of Shiba Inu’s leading developers, Shytoshi Kusama announced the arrival of important updates to the Shiba ecosystem.

According to Kusama, the updates will be “great for Shib (SHIB token), Shiboshi holders, and Shibarium.” Could this imminent “download day” be the perfect rebound opportunity for Shiba Inu as it struggles in the current climate?

— Shytoshi Kusama™ (@ShytoshiKusama) September 17, 2022

Despite the crypto bloodbath on 19 September, SHIB holdings are seeing strange moments among top crypto whales. According to a recent whale tracking site update, the top 5000 Ethereum whales are holding $143.06 million worth of SHIB. Coincidentally, this particular meme token was their largest holding at press time.

The Shiba Inu burning portal, Shibburn, has sighted the increasing pace of the burning rate of SHIB tokens.

With this in mind, the past eight days saw over 550 million SHIB tokens being sent to a dead wallet. In the past week, the burn rate increased to a four-digit mark. On 16 September, the token burned close to 200 million coins following which the burn rate spiked by nearly 3,000%.

Despite these optimistic sentiments, the markets looked bleak, at press time. SHIB was trading at over 11% losses on the daily chart at $0.0000106 with weekly losses at over 20%.

The fall in the