Shiba Inu Burn Rate Soars 3,674% in 24 Hours – Is a Massive Rally Next?
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However, post-rally, the SHIB price appears indecisive in its next steps. While the past 24 hours initially saw an uptick, the momentum has since subsided, resulting in a 0.37% loss.
A seemingly concurrent narrative for SHIB, with wider movements reading much the same. Despite the election serving as a catalyst, SHIB has only slightly surpassed its position from last Thursday, now up by 1.29%.
While the initial surge in attention has waned, with trading volume down 31.89% to $770 million today, there is still optimism. The recent spotlight on SHIB could bolster the pressure building towards an impending breakout.
Shib Burn Rate Soars 3,679% – Will SHIB Price Follow?
While a 24-hour 3,679% surge in SHIB burn rate is certainly impressive, it falls short of SHIB’s historical peaks, a surprise given the tailwinds Trump’s presidency has brought.
Despite what is often considered a harbinger of bullish momentum for Shiba Inu, this performance suggests that SHIB might be overshadowed in the current memecoin landscape. However, technical indicators tell a different story: SHIB isn’t ready to break out just yet.
Most notably, Shiba Inu continues to progress through the current ascending triangle pattern as expected, approaching a golden cross. While a breakout attempt was met with rejection at $0.00001910, it now finds itself in a strengthened position.
This is supported by the MACD on the daily, which has affirmed its break above the signal line today after some hesitance, a move that typically precedes massive upticks in the SHIB price if maintained.
Meanwhile, the Relative Strength Index (RSI) finds itself on good footing at 58 after a stint in bearish territory. Stability appears to have returned amidst mounting buying pressure.
Upon a breakout, the SHIB price may advance to face the past resistance at $0.00002170. However, the groundwork has already been laid for a much more substantial breakout coming off a multi-month bullish descending wedge pattern breakout.
Particularly as the weekly chart’s MACD and RSI seem to lead an advance on that seen from the daily, a much higher conservative target around $0.000031 seems likely.
This Low Cap Gem is Stealing the Spotlight
Even with this potential, Shiba Inu seems to perform margins below newer meme coins. After all, fortune favors the bold – emerging opportunities hold the potential for truly substantial gains.
As “meme coin supercycle” sentiment takes hold and coins like $GOAT and $Pnut experience sudden rises to prominence, strategic investors may find it beneficial to diversify into newer low-cap meme coins with exponential growth potential.
Specifically, Crypto All-Stars ($STARS) presents a unique opportunity by pioneering the industry’s first meme coin staking platform.
The MemeVault brings together the entire meme coin community under the Crypto All-Stars umbrella, staking to earn rewards in the project’s native token, $STARS.
This allows the most dedicated meme coin holders to stay true to their favorite coins while capitalizing on the gains staking offers. Something which may be credited to its instant success, raising over $3.1 million in its presale already!
This confidence is bolstered by STARS’s commitment to transparency, with two successful audits ensuring investor safety.
Beyond its pioneering approach to meme coin staking, $STARS itself offers one of the biggest passive income opportunities right now, with a substantial 501% APY. While the market has suffered under recent volatility, All-Star investors have been raking in consistent gains!
Join the Crypto All-Stars community on X and Telegram to stay up to date on the latest announcements.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.- XRP Cuts Reserve Requirements by 90% to Allow Wallets with Lower Amounts
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