Shiba Inu: Can a 580% Burn Rate Surge Actually Help SHIB Holders? Maybe?

So, SHIB bounces—big surprise, right? A breakout above $0.00001718? Sounds like a plan!
Market mood: mixed like a salad. But hey, higher burn rates and liquidation trends? Bullish momentum—potentially!

Unbelievable! Shiba Inu’s {SHIB} burn rate just shot up, like, 580.76%—that’s not a typo, folks! All of a sudden, the circulating supply is lower than my patience at a 4-hour meeting. At this moment, SHIB is chilling at $0.00001591, a tiny little dip of 1.58%. Man, what’s going on?

But here’s the kicker: with such a dramatic burn, some traders are betting on a rebound. Can this outrageous burn rate really spark a bullish rally? Stay tuned, folks, it’s about to get interesting! 😏

SHIB price action: Is momentum shifting?

Alright, SHIB managed to bounce off its cozy $0.00001290 — $0.00001400 zone—like finding a forgotten slice of pizza in the fridge. There’s buying interest, folks! And here’s the deal: it’s stuck in this descending wedge like a seatbelt at the DMV—historically, this means a potential bullish breakout.

If our little SHIB breaks above $0.00001718, it could shoot towards $0.00002011. Who knew trading could feel like a rollercoaster? 🎢

As if that’s not enough, the Relative Strength Index (RSI) is lounging around 40.54. It’s like, “Hold up, am I oversold?” If it pushes above 50, we could feel some bullish vibes. But if it doesn’t? More retesting, folks. More delays. 🚦

What does holder sentiment reveal?

Breaking news: a whopping 76.85% of SHIB holders are officially in the red. That’s not great, Bob. Only 16.48% are in the green, and 6.67% are at breakeven—congratulations, you didn’t lose money! 🙄

This utter imbalance means if SHIB starts crawling up, many might want to bail out at breakeven or a tiny profit. Potential resistance, anyone? But with the burn rate doing its thing and reducing supply, fewer tokens could mean crazy scarcity—and you know what that means! Cha-ching! 💵

Now, if Shiba Inu keeps the momentum rolling, more profitable holders might emerge. That could really spice things up! 🍽️

SHIB total liquidations: Are bears losing control?

Guess what? Liquidation data shows $80K of long positions got liquidated, meanwhile, shorts—only $19.73K. Oh, boo-hoo! Looks like some bullish traders are still buying in the game! 😄

If SHIB manages to break those key resistance levels, we could witness more short liquidations. But hey, if it stays under resistance, trapped holders and short sellers might just push it lower. Fingers crossed for a breakout, folks!

Shiba Inu bulls vs. bears: Who has the upper hand?

We’re in the classic battle of bulls versus bears, with 126 bulls and 127 bears duking it out the last week. That’s right, folks, it’s practically an even match. But with that burn rate spike, it might be tipping in favor of the buyers! 🐂 vs 🐻

If Shiba Inu holds support and breaks above $0.00001718, we could see some bullish magic. However, if the sells intensify, oh boy! Bears could circle back and take control. Higher consolidation or a drop back to $0.00001290, anyone? Just what we need—more excitement! 😅

Can the burn rate boost Shiba Inu’s price?

So here we are: SHIB’s burn rate spike has drastically cut the circulating supply, creating a bullish catalyst—whatever that means! But let’s be real—price action has to verify this momentum by breaking above $0.00001718.

If buying pressure heats up, SHIB might rally to $0.00002011—but if not, resistance could keep us stuck in neutral. Again! It’s like waiting for your takeout. Will it ever come? 🤷‍♂️

2025-02-17 20:21

SHIB price action: Is momentum shifting?

What does holder sentiment reveal?

SHIB total liquidations: Are bears losing control?

Shiba Inu bulls vs. bears: Who has the upper hand?

Can the burn rate boost Shiba Inu’s price?

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