Shiba Inu Burn Rate Soars 582% In 1 Day: What's Going On?

Shiba Inu's SHIB/USD increasing token burn rate and steady core metrics have caught the attention of traders, who urge patience regarding the meme coin’s near-term future.

Trader Notes: TradingView analyst Paper Trader warns that if SHIB closes below $0.00001038 on the weekly chart, it will confirm a bearish breach of the value zone, potentially sending the token to $0.00000830.

In contrast, Marco Marcello is more optimistic.

He sees signs of a double-bottom W pattern forming, a bullish reversal indicator, and views current levels as a smart opportunity to dollar-cost average.

He notes the worst-case downside is about 48% even if SHIB revisits its all-time lows but holds a high-conviction view that the token could surge up to 800x by the end of the bull cycle.

Statistics: Shiba Inu's burn mechanism saw a dramatic uptick, with 16.7 million SHIB burned in a single day, according to Shibburn.

The spike pushed the daily burn rate up by 582.2%, sparking fresh discussions about SHIB's supply strategy and price outlook.

Whale transactions surged 518.8%, as tracked by IntoTheBlock, with high-value SHIB transfers (over $100,000) increasing from 38 to 45 in a single day.

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Daily active addresses also rose by 4.9%, suggesting renewed engagement despite ongoing price consolidation.

IntoTheBlock metrics confirm expanding whale activity and growing user participation.

Shibariumscan data shows daily transactions remain steady above 4.5 million, showing resilience in the L2 network usage despite market volatility.

Community News: Shiba Inu's marketing lead Lucie shared highlights from a podcast featuring Shytoshi Kusama and core developer John Doe, announcing a Telegram-based developer hub.

The initiative has already attracted more than 300 developers in two weeks, forming an active network for collaboration and future innovation.

Lucie emphasized the broader vision, stating: "We're not just building a chain, we're laying a digital foundation. We're one killer app away from flipping the narrative."

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