Shiba Inu’s Price Soars: Is It a Doge Day Miracle or Just a Barking Mad Dream? 🐕💰

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On this splendid Saturday, the Shiba Inu price, that whimsical creature of the crypto realm, has captured the rapt attention of investors, soaring like a kite in a tempest, all thanks to a weekly SHIB burn saga that would make even the most stoic of market analysts raise an eyebrow. A staggering 535 million tokens have been ceremoniously dispatched to the digital ether in the past week, leaving traders and investors with their eyes gleaming like children on Christmas morning, eagerly anticipating a potential 22% rally. 🎉

Shiba Inu Price Bullish As 535M Tokens Burnt Weekly

Today, the SHIB coin, that cheeky little meme, has pranced up over 2% intraday, closing at a tantalizing $0.00001276. It flirted with a low of $0.00001244 and a high of $0.0000129, a dance of digits that aligns perfectly with the dramatic reduction in supply brought about by this phenomenal weekly burn chronicle. Who knew that burning tokens could be so… exhilarating?

According to the ever-reliable Shibburn on X, a jaw-dropping 535.85 million SHIB tokens were incinerated over the past week, resulting in a 415% upswing in the weekly burn rate. To date, a staggering 410.49 trillion coins have met their fiery demise. 🔥

Ah, the burn mechanism! A delightful little trick that sends tokens to a null address, effectively dealing a massive blow to the meme coin’s market supply. Traders, with their noses to the ground, anticipate a bolstered effect on Shiba Inu’s price, as the law of supply and demand plays its age-old game. Who needs a crystal ball when you have economics?

Intraday Burn

Meanwhile, the intraday burn data reveals that 5.11 million coins were obliterated in the past 24 hours. These constant burns fuel market optimism like a double shot of espresso on a Monday morning, igniting hopes for the crypto’s long-term price prospects. ☕️

Notably, a total of 999.99 trillion SHIB tokens were created, of which approximately 410 trillion have been sent to the great blockchain in the sky. Yet, market watchers, with bated breath, eagerly await phenomenal returns as the current bull cycle seems to have paused for a breather amid macroeconomic heat. 🌡️

Can SHIB Price Gain 22%?

Nevertheless, as the broader crypto market shows signs of recovery this weekend, investors remain optimistic about future movements. Shiba Inu’s price has entered the green zone, leveraging its burn rate surge today, like a cat basking in the sun. ☀️

In the midst of this optimism, a crypto market analyst took to X, revealing crucial price statistics. According to the illustrious ‘Rose Premium Signals,’ SHIB has recently challenged the upper resistance of a falling wedge pattern on the 4H chart, marking a crucial move. A move that could either lead to glory or a facepalm moment. 🤦‍♂️

In the wake of this trajectory, should the price manage to break out above the MA 50, a bullish momentum can be confirmed. The analyst highlights the next price targets at $0.00001375, $0.00001485, and $0.00001565, which is nearly 22% up from the current level. Will it soar, or will it flop? Only time will tell! ⏳

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2025-03-15 11:51