SHIB Army’s Supply Destruction Campaign Paying Off as Shiba Inu Eyes $0.0001 Eruption ⋆ ZyCrypto
The post SHIB Army’s Supply Destruction Campaign Paying Off as Shiba Inu Eyes $0.0001 Eruption ⋆ ZyCrypto appeared on BitcoinEthereumNews.com. Advertisement     Famous for its cryptocurrency market hype and viral community support, Shiba Inu (SHIB) remains one of the most notable meme coins in the crypto space. As a result, market analyst Tektonic believes that SHIB is poised for an 18% rally as its burn rate surges. The market analyst pointed out, “Shiba Inu is currently holding a bullish technical structure, signaling the potential for an 18% price rally. The sharp spike in the SHIB burn rate—up over 12,000%— reflects growing supply reduction pressure, which could act as a catalyst for upward price movement. All eyes are now on whether this momentum will trigger a breakout.” At the time of writing, SHIB was trading at the $0.00001179 zone. Therefore, the $0.0000119 level should be given a watchful eye because it might trigger the next leg up for Shiba Inu. Advertisement   Crypto enthusiast Degen Profit acknowledged, “SHIB price could see a 24% rally if it breaks the $0.0000119 resistance at the upper trendline of its falling wedge pattern, a bullish signal suggesting weakening bearish control. A successful breakout might push SHIB toward $0.0000148, or even $0.0000177 in a stronger rally.” Source: Degen Profit Given that SHIB’s burn rate has been skyrocketing to the tune of 12,833%, the meme coin’s total supply has been diminishing. In line with basic supply-demand economics, lower supply with steady or rising demand typically drives prices higher. Therefore, this paints a bullish Shiba Inu picture, given that 410 trillion SHIB tokens were recently permanently removed from circulation, shrinking the meme coin’s total supply by 41%. Source: https://zycrypto.com/shib-armys-supply-destruction-campaign-paying-off-as-shiba-inu-eyes-0-0001-eruption/
The post SHIB Army’s Supply Destruction Campaign Paying Off as Shiba Inu Eyes $0.0001 Eruption ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement Famous for its cryptocurrency market hype and viral community support, Shiba Inu (SHIB) remains one of the most notable meme coins in the crypto space. As a result, market analyst Tektonic believes that SHIB is poised for an 18% rally as its burn rate surges. The market analyst pointed out, “Shiba Inu is currently holding a bullish technical structure, signaling the potential for an 18% price rally. The sharp spike in the SHIB burn rate—up over 12,000%— reflects growing supply reduction pressure, which could act as a catalyst for upward price movement. All eyes are now on whether this momentum will trigger a breakout.” At the time of writing, SHIB was trading at the $0.00001179 zone. Therefore, the $0.0000119 level should be given a watchful eye because it might trigger the next leg up for Shiba Inu. Advertisement Crypto enthusiast Degen Profit acknowledged, “SHIB price could see a 24% rally if it breaks the $0.0000119 resistance at the upper trendline of its falling wedge pattern, a bullish signal suggesting weakening bearish control. A successful breakout might push SHIB toward $0.0000148, or even $0.0000177 in a stronger rally.” Source: Degen Profit Given that SHIB’s burn rate has been skyrocketing to the tune of 12,833%, the meme coin’s total supply has been diminishing. In line with basic supply-demand economics, lower supply with steady or rising demand typically drives prices higher. Therefore, this paints a bullish Shiba Inu picture, given that 410 trillion SHIB tokens were recently permanently removed from circulation, shrinking the meme coin’s total supply by 41%. Source: https://zycrypto.com/shib-armys-supply-destruction-campaign-paying-off-as-shiba-inu-eyes-0-0001-eruption/
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