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Shiba Inu Price Struggling: Will the SHIB Burn Rate Save It or Just Light It On Fire?

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Ah, the Shiba Inu price—trapped like a poor soul on a tightrope, balancing precariously over the abyss. It hangs by a thread at a crucial support level, while the token’s burn rate, like a madman in a furnace, surges with the force of a volcano. The heavens pity it.

On this fateful Tuesday, Shiba Inu (SHIB) trades at a humble $0.00001192. A number so low, it might as well be a typo. Just a few days ago, this tiny price point was not even an inconvenience—it was the *new normal*. To think that, at some point in 2024, this thing was 75% higher. Truly, the glory days are now nothing more than a distant, fading memory. 😢

The once proud SHIB holders now walk the desolate path of the “poor,” as the price continues its downward spiral. According to the wise data sages at Santiment, the proportion of holders in profit has fallen to a mere 20%. This is a massive drop from the glorious 91% of only a few months ago. Oh, how the mighty have fallen! 😱

Now, here comes the twist, and no, it’s not a plot from a bad soap opera. The burn rate has become an unlikely hero. With the flames of burning tokens now rising by 3,206% (Yes, you read that right. THREE THOUSAND TWO HUNDRED AND SIX percent!), the daily burn has crossed over 30.1 million tokens. One noble user, like a true martyr, sent 14.5 million tokens to their fiery doom, while another one decided to sacrifice 8.3 million for the greater good. A selfless act, surely. 🔥

Shiba Inu, despite its troubled times, retains some of the strongest fundamentals in the meme coin kingdom. Forget Dogecoin (DOGE), Pepe (PEPE), and Fartcoin (FARTCOIN)—they are mere jesters in comparison. SHIB is the *only* deflationary meme coin. Can you believe it? Its deflation rate has dropped to a *whopping* -0.0059%. That’s right, a negative number, folks. Because who doesn’t love a good, unpredictable trend? 😎

Since its inception, SHIB has burned over 410 trillion tokens. Yes, trillion. Meanwhile, only a modest 584 trillion remain circulating. But don’t hold your breath; this burning frenzy is expected to continue, as the Shibarium network grows stronger by the day. The road to oblivion is paved with fire, it seems.

Speaking of Shibarium, its address count has reached 197.45 million! A number so large it makes your head spin. By the end of the month, it might just touch 200 million. Along with over 1.047 billion transactions. It’s a monumental achievement, folks! But wait—there’s more! Some of its BONE fees are quietly transforming into SHIB, only to be sent off to the fiery abyss. You see, it’s all part of the plan. 🔥💰

Shiba Inu Price Technical Analysis

Looking at the weekly chart, it’s like watching a slow-motion train wreck—just painful to witness. The SHIB price has been on a downward trend for months now, starting at a high of $0.00003335 back in November, and plummeting to its current state of $0.000012. A sad sight indeed.

Now, this price point holds two key significances. First, it meets an ascending trendline—one that has connected the lowest points since 2021. Remarkably, SHIB has stubbornly refused to dip below this level, at least six times. Will it hold once more? Or will this be the end? Only time will tell. ⏳

Secondly, this level is crucial because it mirrors the lowest swing of last August—the neckline of the dreaded double-top pattern at $0.0000335. If SHIB dares to drop below this, prepare yourselves for a ride to the depths, possibly even to a key support level at $0.000005840, a 50% plunge from the current price. Grab your popcorn, folks. It’s about to get *interesting*. 🍿

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2025-04-15 16:21

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