Shiba Inu's (CRYPTO: SHIB) burn rate has exploded, reigniting trader optimism for a potential bullish breakout.
| Cryptocurrency | Ticker | Price | Market Cap | 7-Day Trend |
| Shiba Inu | (CRYPTO: SHIB) | $0.00001265 | $7.5 billion | -2.7% |
| Dogecoin | (CRYPTO: DOGE) | $0.2133 | $32 billion | -3.5% |
| Pepe | (CRYPTO: PEPE) | $0.00001085 | $4.6 billion | -5.1% |
Trader Notes: Crypto trader Javon Marks highlighted that SHIB recently confirmed a bullish divergence, a signal that often precedes sharp upside moves. He projects the price could rally more than 156% to reach $0.000032, potentially kicking off a larger trend reversal.
Wyckoff Insider noted SHIB's daily candle closed within the volume profile range, a traditionally bullish formation. He confirmed a long setup is in play, with a stop-loss placed just below the Last Point of Support (LPS) to manage risk exposure.
Statistics: According to Shibburn, over 9.61 million SHIB tokens were burned in just 24 hours — pushing the burn rate up by a staggering 3,464.7%. Shibariumscan reports that daily transactions remain robust, consistently staying above 4.6 million.
IntoTheBlock data shows Shiba Inu large transaction volume narrowed by 28.1% in a single day while daily active addresses inched 0.97% higher. Transactions greater than $100,000 dropped from 80 to 59.
Community News: In a major governance shift, Shiba Inu announced elections to form its first president and DAO Council, aiming to decentralize the management of its token and governance structure. This move marks a significant step toward a fully decentralized Shibarium ecosystem.
Read Next:
Photo: CryptoFX on Shutterstock.com
