$SHIB SHIB’s burn rate soars 3,464%, fueling bullish momentum toward the $0.000015 price target.
Shiba Inu (SHIB) breaks above descending channel resistance at $0.00001236 following a massive 3,464% burn rate spike that destroyed 9.81 million tokens in 24 hours. With DAO elections launching and 87% of traders remaining bullish, SHIB eyes $0.000015 next with potential extension to $0.000032 if momentum holds.
✨SHIB Price Breaks Key Resistance After Massive Token Burn
The meme coin market got a serious wake-up call as Shiba Inu's burn mechanism went into overdrive, torching nearly 10 million tokens in a single day. This dramatic reduction in supply coincided with SHIB breaking above its descending channel pattern that had been capping gains for weeks.
Currently trading at $0.00001342, SHIB has managed to hold above the critical resistance level, giving bulls confidence to push higher. The timing makes this breakout particularly compelling – the burn rate explosion is part of broader community engagement and upcoming governance changes.
✨DAO Elections Drive Community Optimism for SHIB Price
The launch of DAO elections gives SHIB token holders real voting power over the project's future direction, historically boosting long-term price stability. According to recent sentiment analysis, 87% of market participants remain bullish on SHIB's prospects.
The next major target sits at $0.000015, representing roughly a 21% gain from current levels. If momentum continues with sustained burn activity and active DAO participation, the more ambitious $0.000032 target becomes achievable as we head into 2025.
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