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Shiba Inu Burn Rate Soars 27,735% In 24 Hours: Is A 'Bullish Reversal' Coming?

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Khyathi Dalal

·

March 14, 2025

·

Benzinga

Shiba Inu (CRYPTO: SHIB) is seeing a massive spike in its burn rate, fueling speculation of a bullish reversal as key technical and on-chain metrics strengthen.

CryptocurrencyPrice   Market Cap24-Hour Trend7-Day Trend
Shiba Inu (CRYPTO: SHIB) $0.00001246$7.3 billion+2% -7.3%
Dogecoin (CRYPTO: DOGE) $0.1694$25.1 billion-0.07% -16.5% 
Pepe (CRYPTO: PEPE) $0.056973$2.9 billion-0.9% -1.5% 

Trader Notes: Rose Premium Signals notes that SHIB is testing the upper resistance of a falling wedge on the 4-hour chart. A breakout above the 50-day moving average is needed to confirm an uptrend, with potential targets at $0.00001305, $0.00001375, $0.00001485, and $0.00001565 if it happens.

Trader CW highlights a strong buy wall at current levels, with three sell walls standing between SHIB and its previous high of $0.00034. He believes a falling wedge breakout could trigger a major rally, stating: "It all starts in an instant."

Statistics: Shibburn reports 505.6 million SHIB burned in the past 24 hours, with 459.3 million SHIB incinerated in a single transaction 20 hours ago. This pushed the burn rate higher by 27,735.7%.

Shibariumscan shows daily transactions jumped from 69,800 (March 12) to 1.46 million (March 13), alongside a surge in active and new accounts.

IntoTheBlock data shows Shiba Inu large transaction volume increased 64% while daily active addresses were up 1.1%.

Community News: Shiba Inu marketing lead Lucie announced Shib OS, a decentralized governance platform aimed at replacing outdated centralized models for governments and enterprises.

With strong on-chain activity, rising burn rates, and a bullish technical setup, all eyes are on SHIB for a potential breakout.

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Image: Shutterstock

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