The sudden jump in coin burn data in the Shiba Inu ecosystem and technical signals on the price front turned the market’s attention back to SHIB. While the latest figures shared by Shibburn, which monitors intra-blockchain data, revealed that the daily coin burn rate increased by triple digits, the price expectations from the team strengthened investor interest. Evaluations made on social media are interpreted as technical formations may indicate an upward break. All these developments showed that despite the limited burning amount, the groundwork for a possible movement in the price of SHIB coin was formed.
Sharp Increase in SHIB Coin Burn Rate
In-Blockchain data over the last 24 hours showed that there was a remarkable acceleration in the coin burning activities of the Shiba Inu community. According to Shibburn data, the daily SHIB burn rate increased sharply compared to previous days, increasing by 249.37 percent. Burning operations took place within the scope of community-driven mechanisms aimed at reducing supply in the Shiba Inu ecosystem, and the data was publicly shared on a global scale.
Despite the sharp increase in the burn rate, it was observed that the amount of coins destroyed remained relatively limited. While a total of 432,211 SHIBs were removed from circulation in the last 24 hours, this figure remained below half a million. The previous significant burning was recorded three days ago, and approximately 2.94 million SHIBs were burned and removed from circulation at that time. The figures show that although the percentage increase is high, the absolute amount is not yet at a scale that will change market balances on its own.
Technical Break Expectation on the Price Front
In parallel with the activity in coin burn data, optimistic signals came to the fore on the price side. Anonymous cryptocurrency analyst SHIB KNIGHT, in his analysis shared on social media platform He stated that the target of the technical structure in question could be the $0.00001200 level.
This assessment was also supported by Lucie, the leading marketing figure of the Shiba Inu team. In her comment under the post, Lucie stated that she liked the predicted price target and found it positive. According to market data, SHIB started trading around $0.00000871 after rising to $0.00000912 during the week. Technical analysis reveals that the price continues to seek direction in the short term, but increasing expectations keep volatility alive.
