🔥 Shiba Inu Burn Rate Explodes 7418%: Can It Send $SHIB to the Moon?

🔥 Shiba Inu’s Burn Rate Skyrockets
Shiba Inu [SHIB] demonstrated its deflationary strength with an astonishing 7418% burn rate increase in just one week. Over 2 billion SHIB tokens were burned during this period, reflecting the blockchain's commitment to reducing supply and boosting scarcity.

📉 Impact on Circulation and Price
As of now, more than 410 trillion SHIB tokens worth $12 billion have been burned, according to SHIBBURN. This deflationary trend could positively influence SHIB’s price over time, as reduced supply paired with increased demand often leads to price hikes.

📊 Recent Fluctuations
The burn rate slightly dropped by 87% over the last 24 hours after last week’s surge. SHIB’s price also followed a similar trend, rising 15% last week but declining over 3% in the past day, settling at $0.0000299 at press time.

🐋 On-Chain Insights
Despite the price dip, SHIB’s weighted sentiment largely stayed positive, showing bullish community sentiment. However, an uptick in SHIB’s supply on exchanges suggests profit-taking activity, with whales also trimming holdings.

📈 Future Outlook
If SHIB reverses the bearish trend, it might test its resistance at $0.000033. However, prolonged bearish momentum could push the price down to $0.000028, keeping investors closely monitoring market signals.