Shiba Inu burn rate jumped 2,000%, reducing supply and boosting bullish sentiment.
Shibarium activity and self-custody trends suggest strong network growth and investor confidence.
RSI indicates SHIB may face a short-term pullback before continuing upward.
Shiba Inu has thrown gasoline on the fire. Over one billion SHIB tokens disappeared last week, and that’s no small feat. With a 2,000% spike in burns, the meme coin community is going all in. Investors now wonder — is this just smoke, or the spark for a real rally? Behind the numbers lies a much deeper story. From on-chain moves to retail buzz, SHIB may be on the verge of another breakout.
https://twitter.com/thecryptobasic/status/1944706530139308476?t=mxcG_cw9luhJDZ_ctGHOrg&s=19 Supply Shrinks, Confidence Grows
The total SHIB burned last week hit one billion, a massive leap from the week before. That number alone reflects commitment. The goal? Reduce the token’s supply and make each coin more valuable. Think of it like cutting slices from a pie—fewer slices, bigger bite for each. This sudden surge in token burns tells us more than just numbers. It signals a revived interest from both developers and community members.
Scarcity often drives demand, and with billions sent to dead wallets, supply continues to shrink. Exchange netflows tell another important story. More SHIB is flowing into self-custody. That move reduces sell pressure on exchanges and suggests long-term holding. Investors often transfer assets to private wallets when confidence is high. Right now, SHIB seems to be benefiting from that sentiment.
Momentum Builds, But Risks Linger
Another powerful force driving optimism is Shibarium. This layer-2 solution has become the backbone of the project. It processes millions of transactions daily, and the network just passed 12 million blocks. That level of activity speaks volumes. It’s not hype. It’s usage. Shibarium lowers fees and boosts speed. Those improvements help developers and traders alike. A healthy network attracts more users, and more users create momentum. Some market analysts believe continued growth in Shibarium may fuel SHIB’s next big move.
Interest in SHIB isn’t limited to the blockchain. Google search trends reveal a spike in curiosity. Search volume recently hit a two-month high. That kind of attention often brings in retail buyers. Emotional investors entering during uptrends can push prices even higher. However, one cautionary signal has emerged. The Relative Strength Index (RSI) currently hovers near 70. That level often means an asset may be overbought. In plain terms, SHIB’s recent gains could slow down or face a brief pullback.
While short-term corrections are natural, long-term momentum remains. The fundamentals look solid. The burn rate, strong on-chain activity, growing interest, and Shibarium’s progress all add fuel to the fire. Investors should watch closely. The spark has been lit—now it’s just a matter of whether SHIB explodes or pauses to catch its breath.
