Last Updated on September 25, 2022 by Bitfinsider

The Travala partnership has increased the utility of the Shiba-Inu-themed cryptocurrency. Travala.com is a well-known travel service that allows customers to book flights, hotels, vacations, and even supercars such as Ferrari, Lamborghini, and Rolls-Royce.

Members of the Shiba Inu community can now use their meme coin to book rides in McLaren, Aston Martin, and Bugatti. Shiba Inu was recently adopted as a payment mechanism by XcelTrip, a travel-booking company similar to Travala, allowing customers to pay for their travels and related charges with SHIB.

Shiba Inu is now accepted at Travala’s, which meant that users are able to use their SHIB tokens to book trips and use hailing services such as booking rides while on the road. Shiba Inu supporters have slammed the meme coin for its lack of utility and real-world acceptance, but Travala’s alliance could help Shiba Inu gain traction.

The Shiba Inu burn is still on-going, with 101.6 million SHIB being burned overnight

Token burn is one of Shiba Inu’s most important features, as it reduces the meme coin’s circulating supply. 101.6 million Shiba Inu tokens were burned in the last 24 hours, for a total of 410.36 trillion tokens destroyed. Furthermore, Shiba Inu coins delivered to unresponsive wallet addresses are removed from the its supply. This lowers the number of SHIB tokens in circulation, easing selling pressure on Shiba Inu on exchanges.

Shiba Inu may be about to enter the zone of opportunity

Based on data from Santiment, the 30-day Market Value to Realized Value (MVRV), a statistic used to determine if a cryptocurrency is over or below its “fair value,” Shiba Inu is approaching the “opportunity” zone with current accumulation. Short-term investors are losing money if the indicator shows a rating of -10 to -15 percent, while a shift below -10 percent is referred to as the “opportunity zone.” There is an accumulation when short-term investors are less likely to sell, while long-term holders converge.

Shiba Inu’s 30-day MVRV recently fell below two local bottoms at -34 percent and -44 percent. As a result, holders hoarded the meme coin.

According to data from WhaleStats, the 1,000 largest Ethereum whale addresses owned $621.6 million in Shiba Inu coins. In the previous 24 hours, whales have been increasingly active, with a rise in activity (transactions over $100,000). A rise in whale activity is usually regarded as a positive sign for the meme coin.

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