Shiba inu price sale continues at 112,000% by shiv burn speed sky rocket

Shiba Inu (Shib)’s supply-side dynamics are screaming, but the second biggest joke cryptocurrency from market value trading under pressure.

Earlier this week, Shiv’s burn rate skyrocketed above 112,000%, with over 116 million coins being transferred to moneyless wallets. In other words, these coins were permanently removed from the circulation.

Daily burn rate refers to the number of shiv tokens that have been permanently destroyed or removed from circulation each day. Token Burns is designed to reduce the supply of cryptocurrency over time, bringing the appeal of deflation to your digital assets.

“Over 527 trillion shiv tokens are approaching profitability, but the burn rate exploded at 112,839% removed from circulation,” said AI Insights at Coindesk.

Furthermore, Shib’s ecosystem foundations showed strength, record wallet growth exceeded 1.5 million unique addresses, indicating a significant increase in Shibarium Layer 2 transactions.

Still, MemeCoin remained trapped in a downtrend at press, finally changing its hands at $0.00001190, a 2% decline in the last 24 hours and nearly 5% down in a week.

Overnight, the token faced strong sales pressures of over 500 billion units above average volume, establishing resistance to approximately $0.0000122.

Important technical insights

• The double bottom pattern is formed on the chart, signaling a potential 20% meeting at $0.000016.
• The key resistance is established at $0.0000122 and is supported by above average amount.
• A narrow trading range ($0.00001203-$0.000012) indicates the integration phase.
• Volume spikes at 07:35 and 07:46-07:47 coincided with price recovery attempts.