The Shiba Inu token (SHIB) has seen an extraordinary increase in its burn rate, spiking by 6,223%. This significant rise is a crucial factor indicating potential market movement for SHIB.
Both technical analysis and on-chain signals are aligning favorably, suggesting that SHIB may break its current resistance levels. This alignment hints at the potential for a price rally in the near future.
Investors and market analysts are closely observing SHIB's behavior to gauge the possibility of a significant market shift, given these favorable conditions.
