Shiba Inu (CRYPTO: SHIB) rallied more than 5% in a single day amd a rising burn rate and strong network infrastructure activity.
| Cryptocurrency | Ticker | Price | Market Cap | 7-Day Trend |
| Shiba Inu | (CRYPTO: SHIB) | $0.056147 | $3.6 billion | +13% |
| Dogecoin | (CRYPTO: DOGE) | $0.1015 | $17.2 billion | +11.2% |
| Pepe | (CRYPTO: PEPE) | $0.053953 | $1.6 billion | +19.2% |
Trader Notes: Trader World Of Charts explained that Shiba Inu has broken above a counter-trendline, signalling short-term bullish momentum. The next key level is the upper descending trendline, which acts as the main resistance.
If price reaches and breaks this level, it could trigger a rally of over 50%. For now, the immediate target remains that upper trendline, with further upside depending on a confirmed breakout.
Statistics: Shibburn data shows burn rate spiked 1,580.6% in a single day as 53.4 billion SHIB were removed from the ecosystem.
Data shows 44% of Shibarium blocks are already indexed which highlights steady progress in the network’s infrastructure and ongoing growth. This also shows network transparency and usability are steadily improving, paving the way for wider developer adoption.
Image: Shutterstock
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