Shiba Inu Burn Rate Soars, Cuts Fuel Potential 17x Rally
Shiba Inu’s SHIB burn rate has surged dramatically in recent 24-hour windows, with an initial spike of 157,726% removing 2.48 million tokens and a later 6,260% rise destroying 4.55 million. This sustained token burn has trimmed the circulating supply to around 589.24 trillion SHIB, contributing to over 410.75 trillion burned since launch. Following these burns, SHIB price oscillated—rising 1.5% to $0.00001238 after the first surge but falling 3% weekly to $0.00001220—while market capitalization sits near $7.26 billion and trading volume jumps 14.6% to $248.6 million. On the daily chart, SHIB consolidates within a symmetrical triangle, signaling an imminent breakout; a decisive close above $0.0000130 could target $0.0000150 and $0.0000200. Analyst CryptoELITES even forecasts a parabolic rally to $0.0002 if momentum picks up. Short-term indicators—tightening Bollinger Bands, neutral RSI and a near-baseline MACD cross—highlight key levels at $0.0000115 and $0.0000120. A push above the middle band coupled with RSI above 55 may trigger bullish momentum. Traders should monitor the SHIB burn rate trend and technical breakout signals to gauge short-term upside potential and long-term deflationary impact.
Bullish
The drastic increase in SHIB burn rate and subsequent supply cuts reduce sell-side pressure and introduce a deflationary dynamic, which historically has propelled price appreciation in meme coins. Technical patterns—symmetrical triangle consolidation with tightening Bollinger Bands, neutral RSI, and MACD cross—suggest an imminent breakout. A breach above short-term resistance levels around $0.0000130, supported by rising momentum indicators, could trigger a sharp upswing. Analysts anticipate potential targets up to $0.0002, underpinned by sustained demand and reduced circulating supply. In the short term, traders may capitalize on a breakout; in the long term, continued burns could underpin a deflationary floor, creating tailwinds for SHIB’s price.