$SHIB  is making waves again, with an insane 4,137% increase in its burn rate over the last 24 hours! 🚀 This aggressive burning mechanism could tighten supply and potentially fuel a price surge. But will it be enough?

📊 Current Market Check:
💰 Price: $0.00001471 (+2.82%)
🔥 Key Resistance: $0.00001480 & $0.00001600
📉 Support Zone: $0.00001360
Looking at the charts, SHIB is trying to break out of a downtrend that started after its late 2024 peak. The price bounced off a key accumulation zone, hinting at a potential shift in momentum. But here’s the catch: on-chain data isn’t looking too bullish.
🔎 On-Chain Signals:
📉 Net network growth: +0.27% (Weak adoption)
📊 "In the money" metric: -0.57% (More holders in loss)
🐋 Large transactions: -7.86% (Whale interest dropping)
🏦 Exchange reserves: +0.07% (More SHIB on exchanges = possible sell pressure)
So, what’s the verdict? 🧐 SHIB’s fundamentals suggest cautious optimism. If it breaks $0.00001600, we might see a continuation of this rally. Otherwise, expect a potential retrace.
💬 What do you think? Can SHIB hold its momentum, or is a correction coming? Drop your thoughts below! ⬇️