Shiba

Burn

altFINS

Momentum

Shiba Inu

<p>The meme-inspired cryptocurrency Shiba Inu (SHIB) saw over 137 million coins permanently destroyed in the past day, representing a massive 372% spike in burn rate as positive price momentum builds.</p>
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="877" src="https://captainaltcoin.com/wp-content/uploads/2023/10/image-621-1024x877.png" alt="" class="wp-image-362685" srcset="https://captainaltcoin.com/wp-content/uploads/2023/10/image-621-1024x877.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-621-300x257.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-621-767x657.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-621-1536x1315.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-621-2048x1754.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-621-175x150.png 175w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-621-100x86.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-621-409x350.png 409w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-621-788x674.png 788w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-621.png 459w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>According to data from Shibburn, the latest token burn takes the total number of SHIB tokens destroyed to over 410 trillion. This gradually decreasing supply makes substantial price jumps more likely by raising the value of remaining coins.</p>
<p>Shiba Inu has rallied 4% in the past 24 hours, reaching $0.0000075 amid the accelerating burn rate and parabolic 86% surge in trading volumes. <a class="wpil_keyword_link" href="https://captainaltcoin.com/shiba-inu-price-prediction/" title="SHIB" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">SHIB</a> remains one of the top performing altcoins as the broader crypto market springs back to life.</p>
<p>Technical analysis by altFINS suggests SHIB is forming a bullish falling wedge pattern, typically preceding breakouts. If SHIB can retake former support at $0.000008, a renewed rally towards $0.000012 may ensue. Momentum indicators remain mixed for now.</p>
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="573" src="https://captainaltcoin.com/wp-content/uploads/2023/10/image-622-1024x573.png" alt="" class="wp-image-362694" srcset="https://captainaltcoin.com/wp-content/uploads/2023/10/image-622-1024x573.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-622-300x168.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-622-767x429.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-622-1536x860.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-622-2048x1146.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-622-268x150.png 268w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-622-100x56.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-622-625x350.png 625w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-622-788x441.png 788w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p><em>Source: </em><strong><a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="altFINS" href="https://captainaltcoin.com/go/altfins/" data-shortcode="true"><em>altFINS – Start using it today</em></a></strong></p>
<p>While still down massively from its all-time high, Shiba Inu’s improving burn and transaction metrics have analysts upbeat on its recovery potential. The SHIB community has ramped up token burning efforts, while developer activity continues on Shibarium layer-2 solutions.</p>
<p>However, regulatory risks still loom for the unregistered token. The SEC recently cracked down on SHIB promoters, issuing fines for unlicensed securities activities. Investors also remain skeptical of SHIB’s fundamental utility compared to large-cap coins.</p>
<p>Nonetheless, if SHIB can achieve a clean breakout, its technical setup combined with a friendlier market could see the <a class="wpil_keyword_link" href="https://captainaltcoin.com/meme-coins/" title="meme" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">meme</a> coin regain some of its previous luster. The accelerating token burn rate provides a tailwind going forward.</p>
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<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/shiba-inu-burn-rate-soars-by-370-as-shib-price-eyes-breakout/">Shiba Inu Burn Rate Soars By 370% As SHIB Price Eyes Breakout</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Shiba Inu Burn Rate Soars By 370% As SHIB Price Eyes Breakout

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