Zinger Key Points
- Shiba Inu burned 20.6 million coins in 24 hours, pushing the burn rate up by 1,083%.
- Key metrics, including large transactions and active addresses, are rising despite SHIB struggling to break resistance.
- Get 5 stock picks identified before their biggest breakouts, identified by the same system that spotted Insmed, Sprouts, and Uber before their 20%+ gains.
Despite broader market weakness, Shiba Inu SHIB/USD is holding its ground, with burn rate and key metrics showing strength.
| Cryptocurrency | Price | Market Cap | 24-Hour Trend | 7-Day Trend |
| Shiba Inu SHIB/USD | $0.00001267 | $7.5 billion | +2.3% | -10.6% |
| Dogecoin DOGE/USD | $0.1754 | $26 billion | -4.9% | -20.7% |
| Pepe PEPE/USD | $0.056418 | $2.7 billion | +3% | -23.1% |
Trader Notes: On Saturday, TradingView analyst The Hunters Company noted that SHIB's price correction near resistance presents a potential buying opportunity.
Crypto chart analyst Ali Martinez stated in an X post on March 7 that SHIB must hold above $0.000013 to sustain bullish momentum. If buying pressure increases at this level, he predicts a rally toward $0.000020 could follow.
Statistics: Shibburn data shows 20.6 million SHIB were burned over the past 24 hours, with a single transaction removing 19.4 million SHIB around 18 hours ago. This pushed the burn rate higher by 1,028.3%.
IntoTheBlock data shows large transaction volume and daily active addresses increased 16.2% and 17%, respectively. Transactions greater than $100,000 widened from 66 to 78 in a single day.
Shibariumscan data shows a marginal spike in daily transactions from 73,000 to 185,000.
Community News: Shiba Inu's marketing lead Lucie expressed confidence in SHIB's long-term potential.
In a recent X post, she stated: "SHIB is our BTC."
She linked SHIB's ecosystem, including TREAT, BONE, SHEB, LEASH, Shiboshis, and Shib: The Metaverse, as essential components of its growth. Lucie also attributed recent liquidations to "political fearmongering and manipulation."
In another post, she made a bold prediction: "SHIB will rise—like a phoenix, but bigger and brighter."
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