SHIB Burn Rate Soars 1,581% as 200EMA Flip Sparks Buzz

• SHIB burn rate exploded, removing over 100 million tokens overnight.
• 200EMA breakout historically triggered 100% to 400% SHIB price rallies.

SHIBA INU is attracting renewed attention as multiple bullish signals emerge. Price has risen over 4%, and technical indicators suggest a possible breakout. The token’s burn rate has spiked sharply, raising questions about supply dynamics. Analysts are now watching closely as SHIB nears the 200-day EMA, a level tied to past rallies.

SHIB Nears 200-Day EMA, Signals Possible Breakout

Technical data from SHIB Possessor shows SHIBA INU is approaching its 200-day exponential moving average (EMA). This indicator has historically marked the start of major rallies. SHIB surged 420% in early 2023 after a similar flip. Another 100% increase followed a second crossover in late 2023. 

Current charts show SHIB edging closer to this level again. If the flip occurs, it could trigger renewed bullish momentum. The green marker on historical charts confirms previous breakouts followed by EMA flips.

Price Rises 4% As Resistance Levels Come Into Focus.

Meanwhile, SHIB gained 4.09% in the last 24 hours, according to data from army_shiba. It is now priced at $0.00001528. Analysts have identified three resistance zones that may test this momentum. The first is near $0.00001770, followed by $0.00002485 and $0.00003332. 

These levels previously caused price rejections. A narrow buy-sell spread suggests active interest and potential continuation of the upward trend. Traders are eyeing the $0.00001770 level as the next crucial hurdle.

SHIB Burn Rate Spikes 1,581%, Reducing Token Supply

Additionally, Shibburn data show that SHIB’s burn rate has jumped 1,581.39% within 24 hours. Over 100 million SHIB tokens were permanently removed from circulation. The spike in burn activity has intensified speculation about a supply-driven rally. 

Historically, large burns have often preceded price surges. The chart provided by Shibburn shows a steep rise in tokens sent to the burn wallet. Community efforts to reduce total supply are accelerating.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.