{"id":80583,"date":"2025-07-14T11:51:25","date_gmt":"2025-07-14T11:51:25","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=80583"},"modified":"2025-07-14T11:51:25","modified_gmt":"2025-07-14T11:51:25","slug":"shiba-inu-shib-burn-rate-explodes-by-2000-weekly-further-price-rally-incoming","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=80583","title":{"rendered":"Shiba Inu (SHIB) Burn Rate Explodes by 2,000% Weekly: Further Price Rally Incoming?"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

SHIB\u2019s recent price pump coincides with a substantial resurgence of the project\u2019s burning program.<\/span>
\nDespite strong fundamentals, Shiba Inu\u2019s RSI is nearing 70, indicating it may be overbought and could face a brief correction.<\/p>\n

<\/a><\/span><\/h2>\n

More Gains Ahead?<\/h2>\n

Shiba Inu (SHIB) has followed the impressive resurgence of the cryptocurrency market over the past week, posting a price increase of around 17%. Its market capitalization exceeded $8 billion, solidifying the asset\u2019s position as the second-largest meme coin.<\/span><\/p>\n

<\/a>SHIB Price, Source: CoinGecko<\/p>\n

Data shows that the team and community have <\/span>burned<\/span><\/a> more than one billion SHIB in the past seven days, representing a 2,080% surge compared to the prior week. The ultimate goal of the burning mechanism is to reduce the overall supply, making the asset scarcer and potentially more valuable (assuming demand remains constant or heads north).<\/span><\/p>\n

The program\u2019s revival isn\u2019t the only sign suggesting SHIB could see further short-term gains. <\/span>Over the past month, exchange <\/span>netflows<\/span> have remained largely negative, indicating a shift from centralized platforms to self-custody<\/span> \u2013 <\/span>a development that reduces <\/span>the<\/span> immediate selling pressure.<\/span><\/p>\n

<\/a>SHIB Exchange Netflow, Source: CryptoQuant<\/p>\n

The solid performance of Shiba Inu\u2019s layer-2 scaling solution is also noteworthy. Daily transactions processed on the network have been consistently in the millions over the last several weeks, while the total number of blocks recently <\/span>surpassed<\/span><\/a> the milestone of 12 million. <\/span><\/p>\n

Shibarium fosters the development of the Shiba Inu ecosystem by reducing transaction fees and improving speed<\/span>, and <\/span>according<\/span><\/a> to some industry participants, its further advancement could positively impact the price of the meme coin.<\/span><\/p>\n

Last but not least<\/span>, we will <\/span>touch upon<\/span> the <\/span>rising<\/span> public interest in SHIB.<\/span> The Google searches involving the cryptocurrency have climbed to their highest level in two months, suggesting a new wave of retail investors might enter the market.
\n<\/span><\/p>\n

<\/a>SHIB Searches, Source: Google Trends<\/p>\n

The Risk of Correction<\/span><\/h2>\n

Despite the multiple bullish elements, a few metrics hint that SHIB\u2019s rally might be briefly interrupted soon. An example is the Relative Strength Index (RSI), which measures the speed and magnitude of price changes.\u00a0<\/span><\/p>\n

Currently, the ratio hovers around 70, indicating that the valuation has increased too rapidly over a short period and may be due for a pullback.<\/span><\/p>\n

<\/a>SHIB RSI, Source: CryptoWaves<\/p>\n

The post Shiba Inu (SHIB) Burn Rate Explodes by 2,000% Weekly: Further Price Rally Incoming?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR SHIB\u2019s recent price pump coincides with a substantial resurgence of the project\u2019s burning program. Despite strong fundamentals, Shiba Inu\u2019s RSI is nearing 70, indicating it may be overbought and could face a brief correction. More Gains Ahead? Shiba Inu (SHIB) has followed the impressive resurgence of the cryptocurrency market over the past week, posting […]<\/p>\n","protected":false},"author":0,"featured_media":80584,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-80583","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/80583"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=80583"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/80583\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/80584"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=80583"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=80583"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=80583"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}