• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Shiba Inu's Burn Rate Increase and Market Interest Rise

user avatar

by Giorgi Kostiuk

a year ago

Shiba Inu (SHIB) is demonstrating a significant rise in burn rate and trading activity, attracting investor attention.

Sharp Increase in Burn Rate

In the last 24 hours, Shiba Inu's burn rate surged by 1000%, reflecting efforts to reduce supply. The market capitalization is $11.95 billion, with a trading volume of $450.53 million, up 42.29% from the previous day.

SHIB's burn rate increased by 1000% in the last 24 hours.CITE_NA

Technical Indicators and Market Activity

Technical analysis shows the RSI indicator at 46.86, indicating neutral momentum but leaning towards the oversold zone. The Chaikin Money Flow value is at 0.16, suggesting increasing investor interest. The moving average crossover signal may indicate potential upward momentum.

Key Resistance and Support Levels

The primary resistance for SHIB lies at $0.00002100. Breaking this level could lead to testing the price at $0.00002250. The support level is at $0.00001950, and breaking it could push the price down to $0.00001880.

In conclusion, Shiba Inu continues to show growth and market interest despite mixed signals from technical indicators. Investors should closely monitor changes in moving averages and Chaikin Money Flow for clearer trends.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Litecoin Price Stabilization and Technical Analysis Indicate Potential Bullish Trend

chest

Litecoin's price has stabilized around 53 after a significant drop since January, with technical analysis indicating a potential bullish trend.

user avatarAyman Ben Youssef

Institutional Growth Provides Long-Term Support for Solana

chest

Institutional growth provides long-term support for Solana, with a 59% quarter-over-quarter increase in RWA value driven by tokenized treasury products, and total value locked nearing $10 billion.

user avatarTando Nkube

American Bitcoin Corp Reaches 6,000 BTC Milestone Amidst Market Challenges

chest

American Bitcoin Corp has reached a significant milestone by holding 6,039 BTC, making it one of the top 20 public corporate Bitcoin treasuries globally.

user avatarKofi Adjeman

Potential Rebound for Bitcoin as Seasonal Tax Refunds Expected

chest

Analysts suggest that upcoming seasonal tax refunds could provide a liquidity boost for Bitcoin markets, potentially supporting a rebound.

user avatarNguyen Van Long

Senator Warren Issues Warning to Regulators on Crypto Support

chest

Senator Elizabeth Warren warns regulators against using public funds to support the crypto market, arguing it would benefit wealthy investors and risk public anger.

user avatarSatoshi Nakamura

NYDIG Research Debunks Quantum Computing Fears as Cause for Bitcoin's Price Drop

chest

NYDIG's research debunks fears that quantum computing is causing Bitcoin's price drop, attributing it instead to shifts in risk appetite.

user avatarJesper Sørensen

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.