SHIB Burn Rate Spikes 1,436% as Price Picks Up Momentum

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As a seasoned crypto investor with a knack for spotting promising investments, I must say that the recent surge in Shiba Inu (SHIB) has caught my eye. Having witnessed the rollercoaster ride of cryptocurrencies over the years, I’ve learned to never underestimate the power of memes and community spirit.

Shiba Inu‘s price (SHIB) has experienced a notable surge after finding it difficult to surpass the resistance of $0.00001750. The meme coin, represented by a dog theme, has seen its value change due to an extraordinary increase in its burn rate. This statistic has skyrocketed by 1,436% and is playing a role in maintaining price balance.

Bullish sentiment builds as SHIB resistance is broken

According to Shibburn data, approximately 19 million SHIB have been transferred to wallets that are no longer active, boosting the total amount of burned tokens to an astounding 410 trillion, 730 billion, 888 million, 309 thousand, 931 SHIB. Currently, there are approximately 583 billion, 534 million, 897 million, 373 thousand, 752 SHIB tokens still in circulation.

Within the Shiba Inu community, this event has sparked a surge in optimistic feelings about the market. After the push for deflation, the price has risen more than 5%. The previous barrier has been breached as well, with the price briefly moving toward the next potential price point of approximately $0.000018.

Despite experiencing a recent drop in value, Shiba Inu (SHIB) still holds potential. Many users are hopeful that the meme token could continue its upward trend and reach higher levels as long as the current positive trajectory persists.

Currently, data indicates that one Shiba Inu coin is being traded for approximately $0.00001797, marking a significant 5.42% increase over the past 24 hours.

Shytoshi Kusama’s teasers fuel speculation

If Shiba Inu’s (SHIB) current price maintains its position above the 100-day Exponential Moving Average, it could significantly aid in recovering the value that was previously lost. Over the last few weeks, the meme coin has made a resurgence due to a series of token burn events.

Simultaneously, the secretive head of the Shiba Inu group, Shytoshi Kusama, shared a hint that has sparked optimistic feelings within the community. Over several social media posts, he subtly suggested a time travel-like message to his followers, fueling speculation among Shibazens.

Significantly, the communication emphasizes a fresh relationship labeled as “friendshib” between our group and the iconic automaker, DeLorean Motor Company. While Kusama hasn’t disclosed specifics yet, there’s been a palpable sense of enthusiasm within the SHIB community over the prospect of a sports car company collaboration.

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2024-10-12 18:09