Shiba Inu (SHIB), the popular meme coin, is back in the spotlight as technical charts and on-chain activity hint at a major price rally. According to recent data, SHIB's burn rate has skyrocketed by an eye-popping 234,584% in just 24 hours, setting the stage for a potential 190% surge in its price. 📈
What’s Fueling the Fire? 🔥
The massive increase in the burn rate means that a huge amount of SHIB tokens are being permanently removed from circulation. This move is designed to increase scarcity, which could potentially drive up the token’s value. Over 21 million SHIB tokens were burned recently, contributing to the deflationary pressure that often supports bullish momentum.
Technical Analysis: A Bullish Pattern 🐂
Market analysts have spotted a classic bullish pattern forming on SHIB's price chart – a breakout from a descending triangle and a push above key resistance levels. If momentum continues, SHIB could aim for a 190% gain, aligning with previous historical breakouts.
Community Hype & Market Sentiment 💬
The SHIB community, famously known as the "Shib Army," is buzzing with optimism. Social media platforms are flooded with excitement, and the overall market sentiment appears to be turning positive, especially with altcoins gaining traction during the broader crypto rebound.
Caution is Key ⚠️
While the numbers look promising, it’s important to note that crypto markets are highly volatile. Sudden shifts in investor sentiment, macroeconomic news, or Bitcoin’s movement could quickly change the game. Always DYOR (Do Your Own Research) before making investment decisions.
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Final Thoughts
With the burn rate exploding and technical signals aligning, SHIB may be poised for a massive upswing. Whether it actually hits that 190% target remains to be seen, but one thing is clear: Shiba Inu
is heating up again. ♨️ #SHİB #CryptoNews #ShibaArmy #SHIBBurn #CryptoUpdate #Altcoins #MemeCoin #CryptoHype #SHIBPrice #CryptoBurn $SHIB