An interesting development in the Shiba Inu (SHIB) ecosystem is the dramatic spike in the SHIB burn rate, which has reached a staggering 1,344%. The significant increase in token destruction activity comes at a critical time for SHIB investors, as the price of the dog-themed cryptocurrency appears to be on the verge of a major shift. According to the Shibburn X handle, 135,451,536 SHIB tokens were destroyed in 12 transactions over the past 24 hours. In currency terms, this is equivalent to $3,868.50, and the SHIB destruction rate has surged by 1,344.14%.
The spike in SHIB’s destruction rate coincides with increasing speculation surrounding the Shiba Inu’s price trajectory. As SHIB’s price has cooled in recent weeks, investors are watching the market closely for signs of a potential breakout or significant price movement. The broader cryptocurrency market regained bullish momentum over the weekend, with Bitcoin and other major cryptocurrencies recovering and reclaiming key resistance levels. SHIB was not far behind, rising for three consecutive days starting on April 6 before being hit by profit-taking. $SHIB
As of the time of writing, SHIB has fallen 1.83% in the past 24 hours to $0.00002827. On the bright side, the next resistance level for Shiba Inu is between $0.000031 and $0.000036, where 137,600 addresses purchased 20.96 trillion SHIB at an average price of $0.000033. On the other hand, if the SHIB price drops further, the next support level is between $0.000025 and $0.00027, where 46,930 addresses purchased 33.39 trillion SHIB at an average price of $0.000026. Shiba Eternity Update Shiba Inu team member Lucie provided some updates from the Shiba Eternity team. As previously reported, the SHIB CCG game "Shiba Eternity" has ushered in a much-anticipated update, which has aroused heated discussions throughout the community.
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