Shiba Inu

<ul><li>SHIB sees the surge as $1.7B worth of tokens burned to limit supply.</li><li>Consistent SHIB price movements suggest it’s no longer a meme currency.</li><li>The golden cross signal on the SHIB/USD chart provides a bullish buy signal.</li></ul>Over the last day, an incredible $1,695,572,371 ($17,000) of <a href="https://thenewscrypto.com/tag/shiba-inu/" rel="noopener noreferrer nofollow">SHIB has been burned</a> to limit the circulating supply and boost its value. This action reduced the circulating supply of SHIB significantly, causing its value to skyrocket.As a consequence of this move, <a href="https://thenewscrypto.com/shiba-inu-shib-witnessed-a-surge-with-impressive-gains/" rel="noopener noreferrer nofollow">bulls have dominated the SHIB market</a> over the past 24 hours. Boosting prices from an intra-day low of $0.000009848 to a 24-hour high of $0.00001003. Bull power was still in effect at press time, causing a 1.10% surge to $0.00001001.Although approximately $3,978,227,706 tokens have been burnt in the previous seven days. The SHIB price has been reasonably constant, fluctuating between a 7-day high and low of $0.00001036 and $0.000009809, respectively. This consistency shows that SHIB is no longer a meme currency but is following more significant crypto market movements.During the bull run, market capitalization and 24-hour trading volume increased by 1.06% and 57.12%, respectively, to $5,897,207,439 and $136,225,915. The token burning, which was well-received by investors who perceived it as a commitment from the team to raise the value of their investment, is to blame for this spike.<h3 id="shib-usd-technical-analysis">SHIB/USD Technical Analysis</h3>The 5-day moving average has crossed over the 100-day moving average from below on the SHIBUSD 1-hour price chart, providing a golden cross signal. The 5-day and 100-day moving averages touch $0.00001001 and $0.00000998, respectively, to indicate this bullish signal.Continue reading <a href="https://thenewscrypto.com/shib-news-shiba-inus-never-ending-trends-will-it-boost-bull-rally/" rel="noopener noreferrer nofollow">&#64;TheNewsCrypto</a>

Shiba Inu’s Never-Ending Trends, Will it Boost Bull Rally?

Table of Contents

TheNewsCrypto

Other articles published on May 6, 2023

Shot this shit!?

Floki Inu Team Warns Users Against Fake FLOKI Airdrops!

FTX.US Approved by Court to Sell LedgerX at 83% Loss

Cannation (CNNC) up over 1,250,000% in 30 days, is DigiToads (TOADS) next?

Crypto Whale Buys 414.72 Billion PEPE Tokens, Continues to Drive Token’s Growth

Meme Coins Accelerate ETH Burn Rate. Here Are The Stats

Join our free newsletter for daily crypto updates!