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4w ago

Shiba Inu Burn Rate Jumps 1,680% as Price Rebounds to $0.000013

Analysts caution that weak volume makes a sustained rally uncertain.

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Overview

  • On-chain tracker Shibburn reported a roughly 1,680% daily surge in SHIB’s burn rate, with about 1.2 million tokens removed.
  • SHIB gained for a second day to roughly $0.0000128–$0.000013, extending a modest bounce from early-September lows.
  • Technical commentators highlight a potential breakout setup, with widely cited targets near $0.0000159 and loftier projections framed as speculative.
  • Crypto.news cites falling exchange balances to about 278 trillion SHIB from 285 trillion and a 62% monthly rise in ‘smart money’ holdings to 9.89 billion tokens.
  • Ecosystem signals remain mixed, with Shibarium transactions spiking to 1.26 million on Sep. 6 before dropping to about 490,000 on Sep. 7 and analysts noting limited whale accumulation.