Shiba Inu (SHIB) is drawing significant attention as a potential rally looms, sparked by a sharp 1800% surge in its burn rate, which eliminated nearly 500 million SHIB tokens and shrank its circulating supply to 589.26 trillion tokens. This recent burn, recorded by Shibburn, is designed to create scarcity, fostering renewed optimism among investors about SHIB’s price prospects.
Over the past week, SHIB’s burn rate has surpassed 615 million tokens, enhancing market sentiment. Investors are hopeful that this ongoing reduction in supply will lead to price gains, especially as the crypto market trends favorably for SHIB's growth.
Investor interest in SHIB is evident in the increased daily trading volume, which has spiked 245% to hit $6.48 billion. This surge in activity reflects high investor demand, with SHIB’s price already rising by around 10% in a single day.
Trading at $0.00002582, SHIB has shown a hidden bullish divergence—a technical indicator where the Relative Strength Index (RSI) dips while the price forms higher lows. This pattern often suggests an uptrend, leading some analysts to predict a possible 300% rally, with SHIB recently breaking above the critical $0.00002 level.
Beyond technical analysis, SHIB's user base and network activity are growing, with active addresses and network growth rising. These fundamentals support SHIB’s price stability and long-term potential, as higher user engagement strengthens the token’s ecosystem.
With a strong mix of technical and fundamental factors, SHIB seems well-positioned for a potential 300% rally, making it a top contender in the current crypto bull market.
