#SHIB

Trade now . . bullish run ❤❤❤❤👍👍👍$SHIB

𝙎𝙝𝙞𝙗𝙖 𝙄𝙣𝙪 𝘽𝙪𝙧𝙣 𝙍𝙖𝙩𝙚 𝙎𝙥𝙞𝙠𝙚𝙨 3401%, 𝙊𝙥𝙚𝙣 𝙄𝙣𝙩𝙚𝙧𝙚𝙨𝙩 𝙍𝙞𝙨𝙚𝙨 20%- 𝙄𝙨 𝘼 𝙎𝙃𝙄𝘽 𝙋𝙧𝙞𝙘𝙚 𝘽𝙧𝙚𝙖𝙠𝙤𝙪𝙩 𝙉𝙚𝙭𝙩?

In the previous 24 hours, Shiba Inu (SHIB) has burned over 6.3 million of its tokens, an increase in its burn rate by an insane 3401%. This bold burning policy has a lot of implications on the scarcity of the token, and could lead to a rise in perceived value by the investors.

These burn spikes have also coincided with bullish speculation and right now this pattern reaffirms itself. Such a degree of burn also indicates community-led dedication to long-term valuation, which might put a decent ground foundation on the next phase of the top meme coin entry to the market.

According to Coinglass, Shiba Inu open interest has also increased by more than 20% to 295 million along with the burn spike. The increase demonstrates the increase in the speculative appetite, and accumulation of long positions on leverage. An increase in open interest usually denotes bullish confidence by traders, often new players, as opposed to sell-out tendencies.

This turn of momentum can go on to bringing new capital into SHIB derivatives. Additionally, the concurrence of open interest of high magnitude with good fundamentals- such as a burn spike, aids in increasing the bullish story. Thus, the piece of data indicates that the market contestants are getting ready for the chances of a price continuation instead of reversal.

The relative increase in the prices and addresses can be a sign that there is underlying support to the price action of SHIB. Should the growth in addresses continue, it can prove the sustainability of the rally and motivate the larger crypto community to join it long term.