Shiba Inu (SHIB) News Are Positive Again: Burn Rate Jumps by 250%, Could This Be the Moment?

Shiba Inu (SHIB), one of the top meme coins, is making headlines and there's a good reason for it. Recently, its burn rate has jumped, with 2.4 billion $SHIB already burnt.

Shiba Inu (SHIB) price has been on an upward trend lately and there are several reasons behind this. The burn rate of the meme coin increased and the community burned $2.4 billion SHIB in a short time. This has raised the expectations of many SHIB owners and it is wondered how the burnings will affect the price. So is it time for SHIB price to reach new highs? Will the price break through important resistance levels?

Let's take a look at SHIB news to follow the latest developments and find out whether SHIB has the power to make its owners happy.

Burn Rate Increased by 0%

In cryptocurrencies, burning refers to permanently removing a certain number of tokens from circulation. For the Shiba Inu coin, this transaction is an effective way to reduce the large supply of tokens. Having fewer tokens can increase the price, especially when demand is high.

So burning could push the Shiba Inu price above the current level by making each remaining token more valuable.

According to the latest news, the Shiba Inu cremation rate has increased by 0%. The community burned 2.4 billion SHIB tokens in a relatively short period of time. This shows the determination of many SHIB holders to reduce the token supply. Additionally, the burn rate depends on side projects that support the burn process, such as Shibarium.

With the large amount of token burning, many are waiting to see if this will lead to an increase in SHIB price.

$2.4 Billion SHIB Burned – How Will It Affect the Price?

Currently, Shiba Inu price moves between $0.00001556 – $0.00001672. An increase in the burn rate could help the price stabilize or rise at these levels.

As mentioned before, burning reduces the supply of tokens, but this is not always enough to move the price up quickly. Other factors such as market trend, whale movements and trading volume also play an important role.

In the past, burns contributed to the rise of the Shiba coin price when the overall market situation was positive. For example, the Shiba Inu reached an all-time high price of $0.00008616 during a period of major breeds and market excitement. As the burn rate increases, the probability of another price jump increases.

But SHIB still faces strong resistances at $0.00002193 and $0.00002640. Breaking these levels could allow for larger rallies, but this will depend on the performance of the broader cryptocurrency market.

Finally, the Shiba Inu Relative Strength Index (RSI) is at 54.26, indicating a neutral trend. This means that the price can go either way depending on its momentum. As burn rates continue to rise, owners will need to pay attention to technical data to detect any signs of a breakout.

Minotaurus ($MTAUR): A Stable Alternative to Hype-Addicted Coins

News of a possible SHIB rally after the recent token burns has many fans eager to add more of their favorite meme coin. Although SHIB's future looks bright, its volatility cannot be ignored. Some smart SHIB holders are exploring other assets with solid fundamentals. From what we've seen from social media conversations, Minotaurus ($MTAUR) is the most popular choice.

The Minotaurus presale is in full swing and $MTAUR tokens are currently trading at $0.00005961 — This price is p lower than the listing price of $0.00020. If you buy today your first deposit will be approximately 2%

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