Shiba Inu is showing fresh bullish momentum after a sharp increase in its token burn activity. In the past 24 hours, SHIB’s burn rate surged by nearly 790%, helping lift the price and improve market sentiment.
During the same period, Shiba Inu gained around 3%, pushing the price above $0.0000087. This move suggests strengthening momentum, and analysts believe that SHIB could extend its rally if current market conditions remain supportive.
The broader crypto market also turned positive, growing 3.54% overall. Bitcoin continues to trade above $90,000, while Ethereum is holding close to $2,900, supported by renewed investor confidence, ETF inflows, and ongoing technical recovery.
SHIB Burn Rate Explodes 790% in a Single Day
SHIB’s burn mechanism saw a major jump, with more than 61.5 million tokens destroyed in 24 hours—an increase of over 792% compared to the previous day.
Shiba Inu’s market cap climbed to $5.03 billion, rising 1.26% within the same period. This signals a renewed interest from investors and growing activity within the SHIB community.
Weekly burn numbers are also rising. Over the last seven days, SHIB’s burn volume increased by 67.02%, with almost 99 million tokens removed from circulation. The token’s total supply still exceeds 589 trillion SHIB, making consistent burn activity essential for long-term price pressure.
Is SHIB Preparing to Break Above $0.000009?
SHIB is currently trading near $0.00000873, testing a key resistance level. The 4-hour chart on Binance shows steady recovery within the $0.00000850 to $0.00000900 range. This tightening structure hints at an upcoming breakout as market uncertainty decreases.
Buyers are trying to push the price above $0.0000090, a major resistance zone that has held throughout November. A confirmed breakout with solid volume could send SHIB toward $0.00000950 and potentially to $0.000010.
The $0.00000850 level remains strong support, consistently preventing deeper pullbacks. A drop below this range, however, could lead to a corrective move toward $0.0000080.
Technical indicators remain positive. The MACD shows a bullish setup, with the MACD line positioned above the signal line. Although the histogram has weakened slightly, it still prints green bars, signaling ongoing upside potential. The RSI is at 59, reflecting neutral but stable momentum.
