Shiba Inu (CRYPTO: SHIB) has posted a massive surge in burn activity alongside fresh ecosystem updates, hinting at rising network engagement despite broader market weakness.
Trader Notes: Full-time trader Timmi Arno noted SHIB has broken down from its recent sideways range and tapped a major high-volume support zone.
He sees a short-term long setup forming with potential ~15% upside, where he plans to take profits, though a stronger continuation remains possible if momentum expands.
Statistics: Shibburn data shows burn rate spiked 23,864.4% over the past 24 hours as 16.7 million SHIB were removed from the ecosystem. A single transaction around an hour ago involved the burning of 14.4 million SHIB.
Shibarium data shows daily transactions moved higher from 1,850 to 2,720 in a single day, while new contracts jumped from 4 to 16.
The sharp rise in burns and contract deployment points to growing throughput and renewed builder activity on the Shibarium network.
Community News: Shiba Inu unveiled its custom Bitget Wallet SHIB Card, enabling users to spend crypto seamlessly. To celebrate the launch, SHIB rewards and incentives are rolling out:
- Zero fees on spending and card activation from Nov. 19–26
- Additional rewards for early adopters
This puts Shiba Inu in line with other major crypto ecosystems offering branded cards, including XRP (Gemini), Cardano (Wirex) and Solana (Gemini).
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