Shiba Inu ignited its token-burning engines recently as the SHIB burn rate increased by a massive 6,223%. The Shiba Inu price has responded positively to this decrease in circulating supply with a 3% move in the last 7 days to reach $0.0000025.
Shiba Inu is approaching fierce resistance on its daily chart, although technical data suggests a bullish Shiba Inu’s 50-day moving average recently crossed the 200-day moving average to create a golden cross formation. This points to further expansion for Shiba Inu in the coming days and could see Shiba Inu test $0.00004 with enough of a push from buyers here.
Shiba Inu RSI is currently at 66.26, a sure sign of massive buying pressure in the markets. Let's see what wonder this burn do to the Shiba inu.
