Investors’ Focus Shifts to SHIB as Burn Rate Keeps Rising

There has been a considerable rise in the number of burned tokens to lower the amount of SHIB tokens that are currently in circulation. The developers of Shiba Inu recently transferred over 800 million SHIB coins to a defunct wallet. A day has passed since the burning of 794,858,822 SHIB tokens when this occurred.

Several investors are interested in persistent and regular burning. Generally, a decrease in the availability of a token is anticipated to result in a raise in price because there is a chance that demand will rise. Also, whales are already holding an increasing number of SHIB tokens, demonstrating a growing interest in the meme coin among whales.

Key Shiba Inu Levels To Watch – March 29

The market’s current trading range lies between the $0.000015900 and the $0.000007790 resistance and support levels. SHIBUSD is consolidating within a triangle pattern as the bulls keep accumulating at a discount.

As per the Relative Strength Index (RSI), the market just resumed its bullish trend. Given that the price just left the 20.0 level of the RSI, this indicates that the bulls are now storming the market. The price might keep expanding upward even after breaking the $0.000011840 price level.

SHIB Key Levels

Resistance Levels: $0.000017940, $0.000015900, $0.000013990
Support Levels: $0.000009640, $0.000009240, $0.000007790

Total Market Capitalization: $1.18T
Shiba Inu Market Capitalization: $6.29B
Shiba Inu Volume: $0.21B
Market Rank: #14

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