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Shiba Inu Breaks Out as Burn Rate Soars 57,000% – Is a 2x Rally Next?
In an unprecedented surge, the Shiba Inu (SHIB) burn rate has skyrocketed by a staggering 57,000%, removing over 1 billion tokens from circulation in just one day. This extraordinary development has sparked a frenzy among crypto enthusiasts, who are now eagerly anticipating a potential two-fold rally in the coin’s value.
The price of SHIB has been stuck in a long-term downtrend, but this massive breakout could be the catalyst that turns things around for the asset. The chart indicates a successful break above a key descending channel, signaling a significant shift in trend and opening the door to substantial gains.
As the burn rate surges at an unprecedented pace, investors are growing increasingly optimistic about the coin’s prospects. With supply dwindling rapidly, this development could be precisely what SHIB needs to kickstart its next major leg upwards.
Source: https://coinpedia.org/news/shiba-inu-breaks-out-as-burn-rate-soars-57000-is-a-2x-rally-next/
