📈 SHIB Burn Rate Spikes – Bullish Signal for Investors?
In the past 24 hours, Shiba Inu's (SHIB) burn rate skyrocketed by 3,273%, with more than 28.5 million tokens permanently removed from circulation. This sudden spike has sparked renewed excitement in the SHIB community, as burning tokens reduces supply and could potentially increase the token's value over time.
At the time of writing, SHIB is trading at $0.00001218, marking a 1.40% increase in the last 24 hours.
📊 On-Chain Metrics Show Growing Ecosystem Activity
Data from IntoTheBlock reveals that active wallet addresses within the SHIB ecosystem increased by 5.74% over the past week, signaling a rise in user engagement.
Interestingly, there was also a 31.11% surge in Zero Balance Addresses (ZBAs), typically associated with token transfers, wallet consolidation, or token burns—indicating active restructuring within the network.
While the number of new addresses declined by 8.57%, this doesn’t necessarily reflect a negative trend. The internal wallet rotations suggest the network remains highly active, with healthy transaction flows.
🔍 Technical Analysis: SHIB Approaching Critical Resistance
SHIB is currently consolidating between $0.00001106 and $0.00001290, with support forming near the midline of the Bollinger Bands at $0.00001198. Short-term selling pressure remains concentrated near the $0.00001262 resistance level.
If SHIB breaks above the $0.00001290 mark, it may initiate a bullish leg toward the $0.00001428 supply zone. However, failure to overcome this barrier could result in continued sideways movement within the current range.
🔮 Outlook: Is SHIB Ready to Rally?
The massive spike in SHIB’s burn rate, combined with strong on-chain signals, suggests that Shiba Inu may be preparing for a major price breakout. Nonetheless, investors should remain cautious and monitor key resistance and support levels before making any trading decisions.
