Shiba Inu (SHIB) breaks above descending channel resistance at $0.00001236 following a massive 3,464% burn rate spike that destroyed 9.81 million tokens in 24 hours. With DAO elections launching and 87% of traders remaining bullish, SHIB eyes $0.000015 next with potential extension to $0.000032 if momentum holds.
SHIB Price Breaks Key Resistance After Massive Token Burn
The meme coin market got a serious wake-up call as Shiba Inu's burn mechanism went into overdrive, torching nearly 10 million tokens in a single day. This dramatic reduction in supply coincided with SHIB breaking above its descending channel pattern that had been capping gains for weeks.
Currently trading at $0.00001342, SHIB has managed to hold above the critical resistance level, giving bulls confidence to push higher. The timing makes this breakout particularly compelling – the burn rate explosion is part of broader community engagement and upcoming governance changes.
DAO Elections Drive Community Optimism for SHIB Price
The launch of DAO elections gives SHIB token holders real voting power over the project's future direction, historically boosting long-term price stability. According to recent sentiment analysis, 87% of market participants remain bullish on SHIB's prospects.
The next major target sits at $0.000015, representing roughly a 21% gain from current levels. If momentum continues with sustained burn activity and active DAO participation, the more ambitious $0.000032 target becomes achievable as we head into 2025.
Shiba Coin Price Explosion Incoming? 3,464% Burn Rate Surge Sparks Rally to $0.000015 Target
Shiba Inu (SHIB) breaks above descending channel resistance at $0.00001236 following a massive 3,464% burn rate spike that destroyed 9.81 million tokens in 24 hours. With DAO elections launching and 87% of traders remaining bullish, SHIB eyes $0.000015 next with potential extension to $0.000032 if momentum holds.
SHIB Price Breaks Key Resistance After Massive Token Burn
The meme coin market got a serious wake-up call as Shiba Inu's burn mechanism went into overdrive, torching nearly 10 million tokens in a single day. This dramatic reduction in supply coincided with SHIB breaking above its descending channel pattern that had been capping gains for weeks.
Currently trading at $0.00001342, SHIB has managed to hold above the critical resistance level, giving bulls confidence to push higher. The timing makes this breakout particularly compelling – the burn rate explosion is part of broader community engagement and upcoming governance changes.
DAO Elections Drive Community Optimism for SHIB Price
The launch of DAO elections gives SHIB token holders real voting power over the project's future direction, historically boosting long-term price stability. According to recent sentiment analysis, 87% of market participants remain bullish on SHIB's prospects.
The next major target sits at $0.000015, representing roughly a 21% gain from current levels. If momentum continues with sustained burn activity and active DAO participation, the more ambitious $0.000032 target becomes achievable as we head into 2025.