The post THESE are Shiba Inu’s key levels after 3829.51% hike in burn rate appeared on BitcoinEthereumNews.com.
SHIB’s burn rate soared 3829.51%, but market demand remains crucial for sustained price growth. Large transactions surged 611.69%, but declining retail activity raises concerns about long-term momentum. Shiba Inu’s [SHIB] burn rate has skyrocketed 3829.51% in the past week, fueling speculation of a potential supply-driven price surge. At press time, SHIB was trading at $0.00001529, gaining 5.88% in the last 24 hours, showing renewed bullish momentum. The meme coin’s market cap has climbed past $9.18 billion, reinforcing its dominance in the space. However, despite the impressive burn rate, the real question is whether SHIB can sustain this momentum and break past key resistance levels. Does an explosive burn rate guarantee price gains? According to AMBCrypto analysis, a previous 612% burn rate increase had little impact on SHIB’s price due to low market demand. This suggests that while token burns reduce supply, they must be accompanied by strong buying pressure to drive prices higher. Additionally, the market’s reaction depends on overall sentiment, trading volume, and whale accumulation. Therefore, without an increase in demand, even a massive burn event may not translate into sustained price growth. How many SHIB holders are in profit? Currently, 40.42% of SHIB holders are “In the Money,” meaning they are holding at a profit. Meanwhile, 55.09% remain “Out of the Money,” indicating they purchased at higher prices and are still in losses. This imbalance creates potential selling pressure as investors may exit at break-even points, preventing further upside. However, if Shiba Inu manages to break above $0.000016, it could trigger renewed bullish sentiment and further accumulation. Source: IntoTheBlock SHIB’s chart analysis: Where is the next price move? SHIB’s daily chart reveals a descending wedge pattern, which often precedes a breakout. Currently, the price is battling resistance at $0.00001686, a key level that must be breached for further…