- SHIB’s burn rate? Through the roof! Market demand? Now that’s the real question for price growth.
- Whales are swimming in SHIB like it’s their personal ocean, but where are the little fish?
In a week that would make even the most jaded of investors do a double-take, Shiba Inu’s [SHIB] burn rate has gone positively stratospheric, soaring a mind-boggling 3829.51%. It’s like someone lit a fire under this meme coin and it’s burning brighter than a supernova.
As I tap these keys, SHIB is trading at the princely sum of $0.00001529, a modest 5.88% upswing in the last 24 hours. The market cap? A cool $9.18 billion. Not too shabby for a coin that started as a joke.
But here’s the kicker: a burn rate that could melt steel is all well and good, but can SHIB keep the party going and break through those pesky resistance levels?
Token Burns and Price Gains: A Love Story?
AMBCrypto’s crystal ball suggests that a previous burn rate spike was about as effective as a chocolate teapot in heating up SHIB’s price. It turns out, you need more than a fiery burn to make the market sizzle; you need people actually wanting to buy the thing.
So, will the market go gaga for SHIB, or will it be another case of sound and fury, signifying nothing?
Profit or Loss? The Great SHIB Divide
Right now, a slim majority of SHIB holders are “In the Money,” basking in the glow of their paper profits. Meanwhile, the majority are still “Out of the Money,” looking at their screens with the same hope and despair as a lottery ticket holder.
If SHIB can vault over the $0.000016 hurdle, we might see a stampede of buyers. Until then, it’s a game of wait and see.
Chart Analysis: Reading the Tea Leaves of SHIB
SHIB’s chart is a veritable Rorschach test for traders. Some see a descending wedge, a harbinger of a breakthrough. Others see a squiggle that could mean anything.
The price is currently tussling with resistance at $0.00001686. If it muscles through, $0.00002011 is the next big hurdle. Fail, and it’s back to the drawing board.
New Addresses: A SHIB Story in Decline?
New SHIB addresses are dropping like flies, down 18.83%. It’s like a party where everyone’s leaving early. Active addresses are also taking a hit, down 16.76%. But hey, whales are having a whale of a time, with transactions over $100K up 611.69%.
If the little guys come back to the party, SHIB could really get its groove back.
The Verdict: Can SHIB Keep the Momentum?
SHIB’s burn rate might be hot, but it’s the demand that will keep this coin cooking. The key resistance at $0.00001686 is the make-or-break point.
Read Shiba Inu’s [SHIB] Price Prediction 2025–2026
Weak buying pressure could leave SHIB consolidating or even heading south. So, will SHIB’s burn rate be a spark or just smoke and mirrors?
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2025-02-05 07:08