🚀 Shiba Inu (SHIB) Burn Rate Explodes to 1,041%!

The Shiba Inu (SHIB) ecosystem is once again grabbing attention as the burn rate skyrockets to 1,041% in just the past 24 hours, with 6.54 million SHIB tokens burned. This spike has ignited hopes for a strong price rally, as both retail and institutional investors increase their interest.

🔍 Reasons Behind This Surge

The latest on-chain data from Shibburn shows two large burn transactions from wallet 0x608….9fe80, contributing 2.14 million SHIB tokens. Such spike burn events are often signs of potential future price momentum. Notable:

• On October 1: 10.31 million SHIB were burned, achieving a 320% increase.

• On September 28: 1.88 billion tokens were burned, pushing the burn rate to an astonishing 19,930%.

At the same time, network activity has surged, with SHIB Futures Open Interest rising 20% to reach 52.93 million USD. This shows significant market interest in SHIB.

📊 Technical Analysis: SHIB is Preparing for a Breakout

Top analysts are setting expectations for SHIB to break through important levels:

• Javon Marks predicts SHIB could rise 351%, reaching a price of 0.000081 USD after breaking out of a recent descending wedge pattern.

• BigMike7335 believes SHIB could remove another zero, reaching a high of 0.0002479 USD. The important resistance at 0.00003747 USD, if broken, could trigger a jump to 0.0002 USD.


💰 Whale Activity Shows Confidence in SHIB

Large investors are ramping up their accumulation of SHIB. According to IntoTheBlock, over 120,930 addresses have accumulated 550 trillion SHIB at prices ranging from 0.000014 to 0.000018 USD. This activity confirms growing confidence in the long-term potential of this token.

🔥 Where Will SHIB Go Next?

With positive technical patterns, a sharp increase in the burn rate, and accumulation from whales, SHIB seems poised for a significant growth journey. However, breaking through resistance levels like 0.00003747 USD will be crucial to maintain the upward momentum.

💎 Important Levels to Watch:

• Support: 0.00001550 USD

• Resistance: 0.00003747 USD

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

🌟 Continuous Updates to Stay Ahead of the Game

Keep a close watch on price movements and signals from SHIB. Remember, risk management is key—take profits in parts and adjust stop-loss levels as SHIB reaches new milestones.