Shiba

Rally

Burn

Shiba Inu

Coin

<ul class="news-points"> 
 <li>SHIB burn rate surges 5564%, fueling market optimism.</li> 
 <li>SHIB consolidation hints at a possible bullish breakout.</li> 
 <li>The symmetrical triangle pattern signals a potential SHIB breakout.</li> 
</ul> 
The meme coin sector recently witnessed Shiba Inu grabbing attention again as its burn rate soared by over 5500%. On May 10, the Shibburn tracker reported that approximately 26 million SHIB had been destroyed in the past 24 hours. This dramatic spike injected a wave of optimism into the dog-themed meme coin’s market prospects. 
<figure class="wp-block-image size-full">
 <img decoding="async" width="646" height="283" src="https://coinedition.com/wp-content/uploads/2024/05/Screenshot-2024-05-10-164657.png" alt="" class="wp-image-414776" srcset="https://coinedition.com/wp-content/uploads/2024/05/Screenshot-2024-05-10-164657.png 646w, https://coinedition.com/wp-content/uploads/2024/05/Screenshot-2024-05-10-164657-300x131.png 300w, https://coinedition.com/wp-content/uploads/2024/05/Screenshot-2024-05-10-164657-380x166.png 380w, https://coinedition.com/wp-content/uploads/2024/05/Screenshot-2024-05-10-164657-159x70.png 159w, https://coinedition.com/wp-content/uploads/2024/05/Screenshot-2024-05-10-164657-440x193.png 440w, https://coinedition.com/wp-content/uploads/2024/05/Screenshot-2024-05-10-164657-414x181.png 414w, https://coinedition.com/wp-content/uploads/2024/05/Screenshot-2024-05-10-164657-326x143.png 326w, https://coinedition.com/wp-content/uploads/2024/05/Screenshot-2024-05-10-164657-377x165.png 377w, https://coinedition.com/wp-content/uploads/2024/05/Screenshot-2024-05-10-164657-123x54.png 123w, https://coinedition.com/wp-content/uploads/2024/05/Screenshot-2024-05-10-164657-129x57.png 129w" sizes="(max-width: 646px) 100vw, 646px">
</figure> 
Shiba Inu Burn Rate (Source: <a href="https://www.shibburn.com/" target="_blank" rel="nofollow">Shibburn</a>) 
According to Shibburn’s data, Shiba Inu’s burn rate skyrocketed by 5564.09%, removing 25.93 million SHIB from its total supply. The surge offered renewed hope among investors, with the reduced supply anticipated to support a price increase.&nbsp; 
<h2 class="wp-block-heading" id="h-shib-price-action">SHIB Price Action</h2> 
As of press time, the Shiba Inu token has experienced a 3.78% climb in the past 24 hours, trading at $0.00002351. This uptick coincides with a recent acceleration in its burn rate, while weekly data suggests consolidation, with SHIB drifting laterally yet garnering a mild 2.48% uptick.&nbsp; 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/psou6ZizrDSYFhtxrtMe5S-HALbDfAuWPQXShfZMQkuvZzIB6SOhDtq3TiEO-de8c4YtkyrONHpiNNTKbbhlkpCqAosLE206VALiwddJ6eP695GPIj0TOpTZuBphzwdwbS-r8gT_il9_fP2vml15Yi0" alt="">
</figure> 
SHIB/USD 24-Hour Chart (Source: <a href="https://coinstats.app/coins/shiba-inu/" target="_blank" rel="nofollow">CoinStats</a>) 
Despite this con…
The post <a href="https://coinedition.com/shiba-inu-burn-rate-spikes-over-5500-shib-readies-for-rally/">Shiba Inu Burn Rate Spikes Over 5500%, SHIB Readies for Rally</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Shiba Inu Burn Rate Spikes Over 5500%, SHIB Readies for Rally

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