Shiba Inu Burn Rate Soars 27,735% In 24 Hours: Is A 'Bullish Reversal' Coming?

Shiba Inu SHIB/USD is seeing a massive spike in its burn rate, fueling speculation of a bullish reversal as key technical and on-chain metrics strengthen.

Cryptocurrency	Price	Market Cap	24-Hour Trend	7-Day Trend
Shiba Inu SHIB/USD	$0.00001246	$7.3 billion	+2%	-7.3%
Dogecoin DOGE/USD	$0.1694	$25.1 billion	-0.07%	-16.5%
Pepe PEPE/USD	$0.056973	$2.9 billion	-0.9%	-1.5%

Trader Notes: Rose Premium Signals notes that SHIB is testing the upper resistance of a falling wedge on the 4-hour chart. A breakout above the 50-day moving average is needed to confirm an uptrend, with potential targets at $0.00001305, $0.00001375, $0.00001485, and $0.00001565 if it happens.

#SHIB$Shiba Inu is challenging the upper resistance of a falling wedge pattern on 4H chart🧐

Price needs to break above the MA 50 acting as resistance for confirmation of bullish reversal📈

If breakout occurs, expect targets at $0.00001305, $0.00001375, $0.00001485 and… pic.twitter.com/JnZhfHhfXo

— Rose Premium Signals 🌹 (@VipRoseTr) March 12, 2025

Trader CW highlights a strong buy wall at current levels, with three sell walls standing between SHIB and its previous high of $0.00034. He believes a falling wedge breakout could trigger a major rally, stating: "It all starts in an instant."

Statistics: Shibburn reports 505.6 million SHIB burned in the past 24 hours, with 459.3 million SHIB incinerated in a single transaction 20 hours ago. This pushed the burn rate higher by 27,735.7%.

Shibariumscan shows daily transactions jumped from 69,800 (March 12) to 1.46 million (March 13), alongside a surge in active and new accounts.

IntoTheBlock data shows Shiba Inu large transaction volume increased 64% while daily active addresses were up 1.1%.

Community News: Shiba Inu marketing lead Lucie announced Shib OS, a decentralized governance platform aimed at replacing outdated centralized models for governments and enterprises.

With strong on-chain activity, rising burn rates, and a bullish technical setup, all eyes are on SHIB for a potential breakout.

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