$SHIB burned nearly 2.7 million tokens in 24 hours. The burn rate surged nearly 500%, but the price only rose 3%. The overall market Greed Index is at 63—this bullish news feels pretty flimsy.
Right now, all the buzz is around new tokens like PENGU and TIA, and most of the capital has already been drawn away. The burn volume alone is nowhere near enough to absorb the selling pressure.
This rally is most likely being propped up by retail sentiment; institutions haven’t entered yet. Don’t treat token burns as a signal that the price will rise.
Don’t chase the price in the short term. Wait for capital to flow back into $SHIB during the European session. If the burn volume drops sharply or the funding rate turns negative, get out. Consider holding only after it stays above 0.000005.
If you want to test this thesis, you can join the Alpha DNA Trading Tournament, win prizes, and test your trading instincts.
How much do you believe in the bullish impact of this $SHIB burn? Comment 1 if you don’t believe it, 2 if you’re halfway convinced, or 3 if you think it can hit a new high.
#Write2Earn #BinanceSquare #SHIB MemeCoin #TradingTournament
Right now, all the buzz is around new tokens like PENGU and TIA, and most of the capital has already been drawn away. The burn volume alone is nowhere near enough to absorb the selling pressure.
This rally is most likely being propped up by retail sentiment; institutions haven’t entered yet. Don’t treat token burns as a signal that the price will rise.
Don’t chase the price in the short term. Wait for capital to flow back into $SHIB during the European session. If the burn volume drops sharply or the funding rate turns negative, get out. Consider holding only after it stays above 0.000005.
If you want to test this thesis, you can join the Alpha DNA Trading Tournament, win prizes, and test your trading instincts.
How much do you believe in the bullish impact of this $SHIB burn? Comment 1 if you don’t believe it, 2 if you’re halfway convinced, or 3 if you think it can hit a new high.
#Write2Earn #BinanceSquare #SHIB MemeCoin #TradingTournament