Shiba Inu Burn Rate Explodes 99,280% In 1 Day: What Is Going On?

Shiba Inu SHIB/USD is showing signs of a potential breakout, fueled by a massive spike in token burns, strategic partnerships and on-chain activity.

Trader Notes: Crypto trader Javon Marks points to a confirmed bullish divergence on SHIB's MACD, signaling a setup for a 180% surge back toward $0.000032. He believes this could be the start of a larger positive reversal for the meme coin.

he Crypto Basic noted that if crypto assets become more widely adopted, Shiba Inu stands to benefit significantly.

With a current market dominance of 0.21%, they believe SHIB could capture 0.50% to 1% of the emerging digital economy.

Statistics: Shibburn reported a 99,284.5% spike in SHIB's daily burn rate, driven primarily by a single transaction burning 1 billion SHIB roughly 16 hours ago. The 7-day burn rate is now up 1,807.3%, contributing to supply reduction and potential price support.

IntoTheBlock data shows Shiba Inu's daily active addresses moved higher by 9.3% while transactions greater than $100,000 are up from 21 to 24 in a single day.

Community News: The Shiba Inu team announced a new partnership with token launchpad DegenSafe aimed at launching safer meme coin projects.

The collaboration focuses on improving security and user protection in future token launches, a move that could elevate trust and utility across the SHIB ecosystem.

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