Burn

Shiba Inu

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<p dir="ltr">The Shiba Inu (SHIB) token has been drawing attention lately, not just for its meme status but also for a technical pattern forming on its price chart — a symmetrical triangle. This pattern is often considered a continuation pattern, meaning it usually signals the direction the asset will take following a period of consolidation.</p>
<h2 dir="ltr" id="what-is-a-symmetrical-triangle">What is a symmetrical triangle?</h2>
<p dir="ltr">A symmetrical triangle is a chart pattern that looks like a triangle, where the price moves within two converging trendlines. This pattern can break out in either direction — upward or downward — and is generally considered to be a period of market indecision. The breakout direction often indicates likely future price movement.</p>
<img alt="Shiba Inu chart" data-entity-type="file" data-entity-uuid="652c9a49-b7bd-45eb-b910-1e5afacd5b61" src="https://u.today/sites/default/files/inline-images/image_31.png">Source: <a href="https://www.tradingview.com/">TradingView</a>
<p dir="ltr">As of the latest data, Shiba Inu is trading at approximately $0.00000818. The asset has been moving within the confines of a symmetrical triangle, and traders are keenly watching for a breakout.</p>
<p dir="ltr">For Shiba Inu, this symmetrical triangle could be a defining moment. The pattern usually suggests that the asset will continue in the direction it was going before entering the triangle. Given that Shiba Inu has had a mixed performance recently, a breakout could signal a strong move in either direction.</p>
<h2 dir="ltr" id="burn-rate-surges-by-150">Burn rate surges by 150%</h2>
<p dir="ltr">Adding fuel to the speculative fire is the recent 150% surge in the <a href="https://u.today/half-a-million-shibarium-wallets-embrace-shiba-inu-innovation-in-record-breaking-launch">Shiba Inu</a> token burn rate. A higher burn rate generally makes an asset scarcer, which can drive up demand and potentially raise the price. This could act as a catalyst for SHIB as it approaches the apex of its symmetrical triangle.</p>
<p dir="ltr">While the symmetrical triangle is not a guaranteed indicator of future price action, it does provide traders with a framework for potential outcomes. Given the current market conditions and the surge in the burn rate, a bullish breakout is within the realm of possibility.</p>

Shiba Inu (SHIB) Symmetrical Triangle Is Here, Here's What Might Happen

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