In the past 24 hours, SHIB token burn rate has surged by 3,273%, with over 28.5 million tokens removed from circulation. This has reignited investor interest in SHIB, pushing its price up by 1.45% to $0.00001238. Previous similar token burn spikes, alongside network activity growth, have often foreshadowed upward price swings. Data indicates increased user engagement in the SHIB ecosystem. While the number of new addresses has decreased by 8.57%, transaction volume increase reflects network dynamism. Currently, SHIB price fluctuates between $0.00001106 and $0.00001290, with $0.00001198 acting as support and $0.00001262 as short-term resistance. Breaking the $0.00001290 resistance could target $0.00001428, otherwise, SHIB may continue oscillating within this range. SHIB’s market profit index has surged by 7.05% to $125.57 million, indicating growing investor interest. The long to short positions ratio of 1.17 signals a preference for bullish positions. Overall, technical data and network user behavior suggest market readiness for a potential bullish move, though confirmation requires breaching key resistances. Visit the live digital currency price page for real-time updates on all tokens and cryptocurrencies.
