• 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

Google Partners with Pentagon for AI Technology

chest

Google has signed a deal to provide the Pentagon with its artificial intelligence models for classified work.

user avatarSatoshi Nakamura

Google Employees Urge Company to Reject Pentagon AI Collaboration

chest

Hundreds of Google employees signed an open letter urging the company to reject the Pentagon's AI deal.

user avatarNguyen Van Long

XRP Ledger Achieves 3 Billion in Tokenized Value

chest

The XRP Ledger has achieved a significant milestone by hitting 3 billion in total tokenized value, marking a 59% increase in the last 30 days.

user avatarJesper Sørensen

DeFi United Launches Major Recovery Initiative for rsETH Tokens

chest

DeFi United has announced a plan to restore backing for rsETH tokens and address bad debt from North Korean hackers.

user avatarRajesh Kumar

ECB Advocates for Centralized Oversight of Crypto Markets

chest

The European Central Bank supports a proposal to centralize oversight of financial markets, including crypto, to enhance competitiveness and harmonize regulation across the EU.

user avatarLucas Weissmann

Blockchain for Europe Advocates for Reforms in EU Crypto Regulations

chest

Blockchain for Europe has released a report advocating for reforms to the EU's crypto framework to enhance the competitiveness of euro-denominated stablecoins.

user avatarFilippo Romano

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.