Shiba Inu’s (CRYPTO: SHIB) rising burn rates has traders speculating that the meme coin is getting ready for an upcoming price rally.
What Happened: Shiba Inu’s burn rate has skyrocketed by 14,575.02% since the last burn transaction of 277.6 million coins, according to Shibburn data. Amid the spike in burn rates, SHIB is up by 2.6% over the past 24 hours.
Crypto enthusiast ‘Chiara.sol’ has set new targets for Shiba Inu over the weekend, seeing that the meme coin has “broken out of a bullish channel and a potential rally is taking shape.”
He sees key resistance levels of $0.0000186494, $0.0000196923 and $0.0000209399. If these zones are cleared, SHIB could push to …
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