Shiba Inu (SHIB) has experienced a significant increase in its burn rate, leading to discussions about its potential price increase. Over 1 billion SHIB tokens were burned in a single day, resulting in a 7,240% surge in token burns. This burn mechanism is seen as a way to increase scarcity and potentially boost prices. However, analysts question whether these burns alone can push SHIB to $0.01. Achieving this price level would require a market capitalization of nearly $5.89 trillion, which is more than the entire cryptocurrency market combined. Despite optimistic sentiment from holders, with 88% expressing bullishness, investor sentiment remains split. The fear and greed index for SHIB dropped to neutral at 57%, and the Relative Strength Index (RSI) suggests a possible pullback. While the burn rate surge has caught attention, analysts argue that other factors, such as wider adoption and utility, must align for a significant price shift. From a technical perspective, SHIB is testing a key resistance level at $0.000020, with the potential for a rally to $0.000030 if momentum holds. Reaching $0.01 remains a long shot and depends on market trends, adoption, and overall sentiment. Investors should monitor resistance levels and possible corrections before making trading decisions.



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