CoinInsight360.com logo CoinInsight360.com logo
America's Social Casino
CoinGape 2025-03-22 06:27:05

Shiba Inu Price Eyes 81% Upside With SHIB Burn Rate Rising

Over the past week, the Shiba Inu price has faced strong volatility, however, it has managed to hold above the $0.0000125 support levels. Furthermore, large volume transactions for SHIB and rising burn rate can serve as an additional catalyst for the same. Technical chart indicators show that a SHIB breakout can lead to an 81% upside for the second-largest meme coin. Shiba Inu Price Breakout Can Trigger 81% Upside Shiba Inu price is showing signs of a potential bullish reversal as it breaks out of a falling wedge pattern on the daily timeframe. The daily chart shows SHIB trading within a descending channel that has been in place since December 2024, with the price recently testing the upper boundary of this channel. The cryptocurrency reached a high of $0.00001303 and a low of $0.00001293 during this period as shown in the below image. Source: Crypto SHIB As shown in the above image, a breakout from this descending channel can trigger the next SHIB bull rally with a potential target of 81% on the upside. Some market analysts are also predicting a 17x Shiba Inu rally from here onwards. Shiba Inu Transaction Volumes on the Rise With the Shiba Inu price staging a rebound to $0.00001367 yesterday, the network has witnessed a large transaction volume for the same. On-chain data from IntoTheBlock revealed a significant spike in large Shiba Inu transactions, each valued at $100,000 or more, on March 20. This coincided with the SHIB price seeing a surge past $0.000013 levels for the first time in a week. The total volume of these transactions rose to 7.49 trillion SHIB, valued at over $97 million at the $0.000013 price point. Thus, it shows a massive 197% jump from the 2.52 trillion SHIB traded the previous day. Source: IntoTheBlock Over the last weekend, the SHIB transactions dropped to a low of 571 billion. However, whale activity has resumed once again showing potential interest from big players. The latest spike of 7.49 trillion SHIB marks the highest transaction volume in nearly two months. SHIB Burn Rate on the Rise As per the data from SHIBBurn , the overall Shiba Inu burn rate has surged by 21% in the last 24 hours, now moving past $17.1 million. Over the past week, we have seen a strong surge in the SHIB burn rate thereby raising overall market optimism surrounding the meme coin. Following the latest burn event, the total number of Shiba Inu tokens permanently removed from circulation has climbed to 410,745,403,545,103. This brings the circulating supply down to approximately 589,254,596,454,896 tokens. The post Shiba Inu Price Eyes 81% Upside With SHIB Burn Rate Rising appeared first on CoinGape .

면책 조항 읽기 : 본 웹 사이트, 하이퍼 링크 사이트, 관련 응용 프로그램, 포럼, 블로그, 소셜 미디어 계정 및 기타 플랫폼 (이하 "사이트")에 제공된 모든 콘텐츠는 제 3 자 출처에서 구입 한 일반적인 정보 용입니다. 우리는 정확성과 업데이트 성을 포함하여 우리의 콘텐츠와 관련하여 어떠한 종류의 보증도하지 않습니다. 우리가 제공하는 컨텐츠의 어떤 부분도 금융 조언, 법률 자문 또는 기타 용도에 대한 귀하의 특정 신뢰를위한 다른 형태의 조언을 구성하지 않습니다. 당사 콘텐츠의 사용 또는 의존은 전적으로 귀하의 책임과 재량에 달려 있습니다. 당신은 그들에게 의존하기 전에 우리 자신의 연구를 수행하고, 검토하고, 분석하고, 검증해야합니다. 거래는 큰 손실로 이어질 수있는 매우 위험한 활동이므로 결정을 내리기 전에 재무 고문에게 문의하십시오. 본 사이트의 어떠한 콘텐츠도 모집 또는 제공을 목적으로하지 않습니다.