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

Table of Contents

Coin Edition

Autres articles publiés le 10 mai 2024

JPMorgan Diversifies into Bitcoin ETFs

Shiba Inu Soars As Analyst Insights Hint at Explosive Growth Ahead

75% of Ethereum’s Addresses Make Money While Only 13% Are Active

How Can Bitcoin (BTC) Price Go Up? What’s Needed for a Rally? Here’s the Answer

Dogecoin holders up their stake by 1%: 265.86M reasons to buy DOGE?

Crypto crash alert! April sees first Trading vol drop in seven months

Join our free newsletter for daily crypto updates!