$SHIB Soars 250% – How Token Burns and Bullish Signals Are Playing a Role

A major factor driving this rally is the massive token burn initiated by the Shiba Inu community. Blockchain wallet tracker Shibburn has revealed that over 2 billion SHIB tokens have been burned in 24 hours. This includes a single transaction by an anonymous whale that sent a staggering amount of tokens to a stump wallet. These token burns effectively reduce the circulating supply, creating scarcity and increasing the value of the token.

What’s more, the Shiba Inu community remains very active, consistently pushing for burns and adoption. As these efforts intensify, SHIB’s price momentum shows no signs of slowing down. While the current price rise may be partly due to the broader upward trend in the market, the dwindling supply of Shiba Inu and growing institutional interest suggest a potentially bullish outlook. $DOGE $PEPE

Technical analysts are keeping a close eye on key resistance levels. A breakout of the current target could open the way to the next significant price level.#2024withBinance