Shiba Inu (SHIB) Burn Rate Accelerates 355% in a Single Day: Token Reacts Rising

The second most important meme cryptocurrency on the market, Shiba Inu (SHIB), accelerated its burn rate by more than 355% in the last 24 hours, which was reflected in a price increase of SHIB, going from $0.00001607 at $0.00001684.

Shiba Inu is currently 30% above its local low, which puts it at an advantage over the other meme cryptocurrencies. Interest in SHIB has skyrocketed in recent weeks, when a memecoin trader purchased $10 million worth of Shiba Inu tokens.

Shiba Inu (SHIB) Burn Rate Accelerates 355%, What Does It Mean?

Data from Shibburn showed that SHIB's burn boosted its market capitalization by 0.83% to $9.67 trillion. Furthermore, the total supply was until a few hours ago 589,272,506,054,171, while another important burning of tokens was last week, when 74,464,045 were burned, which was equivalent to 79.05% in just 24 hours.

#ShibaInuhas had 7 weekly Stoch RSI crossings in its entire existence. Every time we saw this crossover while at major support, we saw on average a 146% rise to the upside.#Shibis currently 30% above its local low, which means that if we follow what has happened every time in the past, we still have a lot more upside in the tank.#Altcoins#Crypto”, explained a trader in X.

#BinanceTurns7 #BinanceTournament" #Bitcoin #SHIB🔥🔥 $SHIB $BTC $BNB