SHIB Burn Rate Soars 1,361% Amid Bullish Signals
Key Takeaways
- Shiba Inu (SHIB) saw a 1,361% increase in token burn rate within 24 hours.
- At the same time, the number of new and active wallets rose significantly.
- Technically, a bullish pattern is forming, but the price remains below a key resistance level.
- On-chain data indicates user growth, while derivatives markets signal overheating.
Burn Rate Skyrockets – What’s Behind It?
Within a single day, the meme coin Shiba Inu recorded a burn rate of over 1,361%. This refers to the destruction of tokens to reduce supply. The goal: to create scarcity and potentially increase the price. Despite this event, the SHIB price dropped by nearly 4% to around USD 0.00001309. This shows that burn activity does not immediately impact the price.
More Users, More Activity – A Positive Sign?
On-chain data paints a clear picture: the number of new wallets increased by 22.1% over the past seven days, and active wallets rose by 23.07%. Notably, empty wallets also increased by 31.41%. These are often associated with reactivated or newly created accounts. This suggests growing interest – from both new and returning users.
Technical Analysis: Cup-and-Handle Pattern in Focus
The chart is currently forming a so-called “cup-and-handle” pattern – a classic bullish formation. The key resistance lies at USD 0.00001411. A breakout above this level could push the price up to USD 0.00001709. However, if SHIB falls below the support at USD 0.00001051, the pattern would be invalidated.
Market Data Shows Mixed Signals
Exchange reserves dipped slightly by 0.12%, indicating reduced selling pressure – possibly due to accumulation by long-term investors. At the same time, the 24-hour net flow dropped by 157.97%. This means significantly more SHIB was deposited to exchanges than withdrawn – a possible sell signal.
Derivatives Market: Overreaction or Justified Optimism?
Liquidation data reveals an imbalance: long positions worth USD 499,000 were liquidated, compared to just USD 12,000 in shorts. This points to an overly bullish market. Such situations can quickly reverse if an expected breakout fails to materialize.
Our Assessment
The sharp increase in burn rate and rising user activity are clear signs of renewed interest in Shiba Inu. However, technical resistance and an overheated derivatives market call for caution. For a sustainable upward trend, SHIB must break through the resistance at USD 0.00001411 with volume. Until that happens, cautious optimism remains appropriate.
You should read that too:
-
Asian Slots – The Best Asia-Themed Online Slot GamesReading time: ~ 2 minutes
-
Magic Slots – The Best Magic-Themed Slots
Reading time: ~ 2 minutes
-
Danneskjold Ventures B.V. Casinos
Reading time: ~ 2 minutes
-
The Best Jackpot Slots & Casinos 2025
Reading time: ~ 2 minutes
-
Versus Odds B.V. Casinos
Reading time: ~ 2 minutes
Sources
- IntoTheBlock
- TradingView
- CryptoQuant
| Wagering requirements | 35x bonus |
| 35x free spins winnings | |
| Minimum deposit | €20 |
| Maximum bet | €5 |
| Bonus validity | 30 days to claim |
| 14 days to wager / 7 days for free spins |
- There is no maximum bonus amount.
- 10 Free Spins per day over ten (10) days on Gates of Olympus or Book of Ra Deluxe.
| Wagering requirements | 40x bonus |
| 40x free spins winnings | |
| Minimum deposit | 0.0005 BTC |
| Maximum bet | 0.00004 BTC |
| Bonus validity | 30 days after registration |
| 14 days (1st), 7 days (2nd), 1 day (3rd) |
- To get the bonus, enter the bonus code before the deposit.
- Minimum deposit: 0,07 BCH • 0,4 LTC • 233 DOG • 45 XRP • 0,01 ETH • 20 USDT • 69 ADA • 0,05 BNB • 184 TRX • 20 USDC.
- Maximum bet: 0.007 BCH • 0.0009 ETH • 0.04 LTC • 23 DOGE • 2 USDT • 4 XRP • 18 TRX • 7 ADA • 0.005 BNB • 2 USDC • 2 EUR • 2 USD.
- Free spins are provided in batches of 25 per day.
- Free spins are credited on the Gamebeat slots: Max Miner (1st), Book of Elixir (2nd) and Odin’s Tree (3rd).
| 1st deposit | 120% up to $500 + 100 Free Spins |
| 2nd deposit | 100% up to $300 + 100 Free Spins |
| 3rd deposit | 150% up to $500 + 100 Free Spins |
| 4th deposit | 100% up to $300 + 100 Free Spins |
| Wagering requirements | 45x deposit + bonus |
| 40x free spins winnings | |
| Minimum deposit | $10 (1st) |
| $15 (2nd-4th) | |
| Maximum bet | $5 per round |
| Bonus validity | 30 days to claim, 7 days (1st-4th) |
| 7 days for free spins |
- You must complete the registration and verification process, including a valid email or phone number, to qualify for this bonus.
- You must select the desired bonus during the deposit process.
- There is a maximum withdrawal limit of $10 from winnings derived from free spins.
Advertising transparency