• 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

European Central Bank Raises Concerns Over Stablecoins

chest

The European Central Bank raises concerns over the increasing adoption of stablecoins, warning that their wider use could threaten traditional banking systems in Europe.

user avatarMaria Gutierrez

Ray Dalio Questions Bitcoin's Safe-Haven Status

chest

Billionaire hedge fund founder Ray Dalio expresses skepticism about Bitcoin's ability to serve as a safe-haven asset compared to gold.

user avatarDavid Robinson

Paraguay's ANDE Partners with Morphware to Explore Bitcoin Mining

chest

Paraguay's state power utility ANDE has partnered with Morphware to explore Bitcoin mining as part of the country's energy strategy.

user avatarAndrew Smith

New Editorial Standards Aim to Enhance Reporting Quality.

chest

A new editorial policy has been established to ensure accuracy, relevance, and impartiality in reporting.

user avatarJacob Williams

Solana's Open Interest and Funding Rate Plummet

chest

Solana's open interest has dropped below 5 billion, and the weighted funding rate has reached its lowest point in over a year, indicating a bearish market sentiment.

user avatarZainab Kamara

Global Oil Production Faces Major Disruptions Due to Strait of Hormuz Situation

chest

The ongoing crisis in the Strait of Hormuz has led to significant disruptions in global oil production, with Qatar halting LNG production, Saudi Arabia suspending output, and Iraq making substantial cuts.

user avatarAyman Ben Youssef

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.