Shiba Inu Just Burned Millions of Tokens — Is the Dog About to Bite Back?
Shiba Inu (SHIB), the meme coin that once had Dogecoin nervously checking its wallet, might be waking up from its nap. Why? Because the SHIB army just torched over 26 million tokens like they were roasting marshmallows over a blockchain bonfire.
And get this — the burn rate jumped by a sizzling 827%. That’s not a typo. It’s like SHIB went from casually flicking off a few tokens to full-blown flamethrower mode.
Wait... Why Are They Burning Tokens?
Great question. Think of it like this: Imagine you had 1,000 slices of pizza, but only five friends to share it with. It’s not that exciting. But if you throw away 900 slices, suddenly those leftovers seem way more valuable. That’s the idea behind burning tokens — create scarcity, pump up demand, and (hopefully) see prices wag their tails and climb.
And it kinda worked! SHIB saw a nearly 4% price bump — a nice little woof after weeks of feeling like a soggy dog biscuit in the rain.
Analyst Sniffs Out a Potential Comeback
Crypto analyst Ali Martinez — who probably dreams in candlestick charts — spotted a juicy little signal on SHIB’s weekly chart. Using the TD Sequential (think of it like tarot cards for traders), he noticed a "red 9" candle. That usually means the downtrend might be coming to an end, like SHIB finally getting up after hitting the snooze button nine times.
As of now, SHIB is sitting pretty around $0.00001264, up about 3.48% in 24 hours, with a market cap of $7.43 billion. Not too shabby for a token inspired by a meme dog.
So... Is This the Comeback Tour?
Maybe! The SHIB community is definitely fired up (literally, with all that burning), and technical indicators are starting to bark in a more hopeful tone. But in crypto — as always — it’s part logic, part luck, and part “let’s see what Elon tweets next.”
Either way, it’s clear: the SHIB squad is still in the game, and they’re not going down without a bark.
