Shiba Inu (SHIB) Burn Rate Surges Over 1000%: Is a Major Price Rally Next?

🚀 Shiba Inu’s Burn Rate Skyrockets by 1041%!

The Shiba Inu (SHIB) ecosystem is making headlines again as its burn rate soared by an astonishing 1041% in the past 24 hours, with 6.54 million tokens burned. This significant spike has reignited hopes for a potential price rally, as both retail and institutional interest surge.

🔍 What’s Driving the Burn?

Recent on-chain data from Shibburn highlights two major burns from wallet 0x608….9fe80, contributing 2.14 million SHIB tokens. Historically, spikes like these have set the stage for bullish momentum. For instance:

• October 1: 10.31M SHIB burned at a 320% rate.

• September 28: 1.88B tokens incinerated, marking a 19,930% burn rate surge.

As network activity intensifies, SHIB Futures Open Interest has also climbed by 20% to $52.93M, signaling increased market appetite for the token.

📊 Technical Analysis: SHIB Gears Up for a Breakout

Top analysts are eyeing a breakout moment for SHIB:

• Javon Marks forecasts a 351% price surge, targeting $0.000081 following SHIB’s recent breakout from a falling wedge pattern.

• BigMike7335 suggests SHIB could erase another zero, reaching as high as $0.0002479, with a crucial Fibonacci resistance at $0.00003747. Breaking this level could trigger a parabolic move toward $0.0002.

💰 Whale Activity Points to Confidence

Large holders are doubling down on SHIB. According to IntoTheBlock, over 120,930 addresses have accumulated 550 trillion SHIB in the price range of $0.000014–$0.000018. This whale activity underlines growing confidence in SHIB’s long-term potential.

🔥 What’s Next for SHIB?

With bullish technical patterns, a surging burn rate, and strong whale accumulation, SHIB seems primed for an upward trajectory. However, breaking through resistance levels like $0.00003747 will be critical for sustained growth.

💎 Key Levels to Watch:

• Support: $0.00001550

• Resistance: $0.00003747

• Targets: $0.000081 (short term), $0.0002 (medium term)

🌟 Stay Ahead in the Game!

Follow the price action and stay updated with $SHIB signals. Remember to manage risk wisely—secure partial profits and adjust stop-loss levels as SHIB reaches new milestones.

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