 
 
With Shiba Inu’s burn rate surging, the second-largest meme coin appears poised to challenge the $0.0000155 resistance once again.
Highlighting the trend, market analyst Phursey noted, “A single whale just burned 85.8M SHIB, driving a 48,247% surge in the daily burn rate.”
The analyst added that even though it was one of the largest in weeks, the burn falls short of late July’s massive single-day blaze of 600M SHIB.
Burns matter because they cut circulating supply by sending tokens to irretrievable ‘dead’ addresses, a deflationary move closely tracked by the SHIB community.
Will $0.0000155 Be Next for Shiba Inu?
According to market analyst Lingrid, SHIB is consolidating above key support, echoing past accumulation phases that often sparked sharp rallies.
 
She added, “Price is hovering below the $0.00001450 resistance trendline, with the target line above in sight. A breakout from here could ignite momentum toward the $0.00001550 zone.”
At the time of this writing, SHIB was trading at $0.00001298, according to CoinGecko data.
Nevertheless, time will tell whether Shiba Inu’s high burn rate will translate to a price increase.
Meanwhile, analyst Javon Marks recently revisited an earlier bullish chart pattern, noting Shiba Inu has confirmed a MACD bullish divergence, signaling a potential 180% surge toward $0.000032 and possibly igniting a larger price reversal
Source: https://zycrypto.com/shiba-inu-burn-rate-explodes-48247-after-85-8m-shib-burn-targets-crazy-price-level/