Shiba Inu burn rate spikes by 322% as $SHIB price moves toward important support SHIB ShibArmy SHIBCommunity
handle reports a small amount of 64,506,471 SHIB tokens burned in 10 transactions. Aside from this, a few million SHIB were sent to dead wallets in different transactions in recent hours. In the last hour, 4,854,572 SHIB tokens were burned in a single transaction.Shiba Inu may be forming a tight bull pennant for a possible breakout followed by parabolic upside moves."Nearest target will be $0.
At the time of publication,Shiba Inu's price dipped to lows of $0.00001457 before slightly retracing. This is a hair above the $0.00001435 level, which marked a barrier confirmed in May. Shiba Inu seems to be in the process of converting this key level into support if the price sustains at current levels.The relative strength index, a momentum indicator, might suggest that the Shiba Inu price might be poised for a short-term move.
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