SHIB's Hot Gossip: Rumors of Crypto-AI Boost Burn Rate!

Shiba Inu's burn rate skyrocketed by 60%, torching 80 million SHIB tokens following rumors of a potential foray into Artificial Intelligence (AI). Despite this fiery surge, Shiba Inu traders are now gearing up to cash in, with sell orders totaling a whopping 3.5 trillion SHIB, notably surpassing the available buy orders. Unfortunately, the intense burning event didn't fuel SHIB's market value, as the meme coin experienced a 2% dip in the last 24 hours, trading at $0.000008515.

The bears are asserting dominance with the overwhelming sell orders, presenting a risk of a significant sell-off. The market dynamics indicate a demand-supply imbalance, with 3.5 trillion #SHIB on the selling block compared to 2.7 trillion in buy orders. With the current market demand lagging behind supply by 800 billion SHIB, a potential price retracement looms if sellers aggressively lower prices to expedite order fulfillment.

Looking ahead, a bearish forecast suggests a further downturn for Shiba Inu, possibly dipping below $0.000007. The Global In/Out of the Money chart aligns with this prediction, highlighting that losing support at $0.000006 could trigger substantial losses. However, bullish aspirations may prevail if SHIB reclaims $0.00001, though overcoming resistance from addresses holding at higher prices poses a considerable challenge for the Shiba Inu community. The meme coin's trajectory remains unpredictable, offering both bears and bulls opportunities for action in the dynamic crypto landscape.

#Blast #hodl #ShibaInuUpdate $SHIB #ai