_๐จโ ๏ธ๐จShiba Inu's Burn Rate Soars 227%: Why Are Technical Indicators Weak?_ ๐ค
$SHIB $PEPE $WIF ๐โคด๏ธ๐ช
_Crypto Conundrum_ ๐
Shiba Inu's burn rate has skyrocketed 227% after destroying 1 million coins, but surprisingly, technical indicators are flashing red. Despite reduced supply, demand hasn't followed.
_Key Stats:_
- Burn Rate: 227% increase ๐ฅ
- Coins Burned: 1 million SHIB ๐ธ
- RSI: 50 (Neutral) โ๏ธ
- SMA: 100-day & 50-day below 200-day SMA โฌ๏ธ
_Weakness Factors:_
- Large Transaction Slump: 65.5% drop in 24 hours ๐
- Exchange Hack: 9 billion SHIB stolen ($22M) ๐จ
- Price Action: 1.6% decline in 24 hours, 6% monthly loss ๐
_Expert Insights:_
"Shiba Inu's burn rate increase should boost prices, but technicals tell a different story." - Crypto Analyst
_Outlook:_
- Bearish sentiment prevails unless momentum shifts
- Sellers maintain control, potentially leading to further declines
- Investors should monitor price action and adjust strategies
_Stay Informed:_
Follow Shiba Inu's price movements and market trends.
_Disclaimer:_
This article is for informational purposes only and should not be considered investment advice.
_Sources:_
[1] Shiba Inu Burn Rate Analysis
[2] Crypto Market Trends
[3] CoinGecko
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