Shiba

Burn

Impact

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Shiba Inu

<ul>
 <li>SHIB’s token burning rate surged by 1,344%, with 135,451,536 tokens burned in 12 transactions.</li>
 <li>SHIB investors closely monitor price dynamics amidst speculation of a potential shift, following recent price stabilization.</li>
 <li>SHIB’s current price stands at $0.00002827, with resistance projected between $0.000031 and $0.000036.</li>
</ul>
<p>There has been a notable spike in the Shiba Inu (SHIB) token burning rate, marking an impressive increase of 1,344%.&nbsp;</p>
<p>This surge in token-burning activity comes at a crucial moment for SHIB investors, amid indications of a potential shift in the price dynamics of the cryptocurrency. Reports reveal that over the past 24 hours, 135,451,536 SHIB tokens were burned across 12 transactions, amounting to $3,868.50 in monetary value. This surge in the SHIB burn rate is particularly noteworthy, given its substantial rise by 1,344.14%.</p>
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   <p lang="en" dir="ltr">In the past 24 hours, there have been a total of 135,451,536 <a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SHIB</a> tokens burned and 12 transactions. Visit <a href="https://t.co/t0eRMnyZel" rel="noopener noreferrer nofollow">https://t.co/t0eRMnyZel</a> to view the overall total of <a href="https://twitter.com/hashtag/SHIB?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#SHIB</a> tokens burned, circulating supply, and more. <a href="https://t.co/Dls1G9gKzA" rel="noopener noreferrer nofollow">pic.twitter.com/Dls1G9gKzA</a></p>— Shibburn (@shibburn) <a href="https://twitter.com/shibburn/status/1777547254343073992?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 9, 2024</a>
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<p>The recent uptick in token-burning activity aligns with increasing speculation regarding Shiba Inu’s price trajectory. Given SHIB’s recent price stabilization, investors are vigilant, observing the market for indications of a potential surge or notable price shift.</p>
<p>Over the weekend, the broader cryptocurrency market witnessed a resurgence in bullish momentum, with Bitcoin and other major cryptocurrencies reclaiming key resistance levels after a period of decline. SHIB also joined the rally, experiencing a three-day upward trend from April 6, before encountering profit-taking.</p>
<p>As of the latest update, SHIB is down by 1.83% over the past 24 hours, trading at $0.00002827. Analysts suggest that SHIB’s next resistance level lies between $0.000031 and $0.000036, supported by significant buying activity from 137,600 addresses at an average price of $0.000033. Conversely, if SHIB’s price retreats further, the next support level is anticipated between $0.000025 and $0.000027.</p>
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<p>The post <a href="https://cryptonewsland.com/shiba-inu-burn-rate-soars-over-1300-price-impact-under-scrutiny/" rel="noopener noreferrer nofollow">Shiba Inu Burn Rate Soars Over 1,300%: Price Impact Under Scrutiny</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Shiba Inu Burn Rate Soars Over 1,300%: Price Impact Under Scrutiny

Crypto News Land

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