Shiba Inu (SHIB) recently witnessed a significant increase in its burn rate, surging 3,674% on U.S. presidential election day. Interestingly, this spike has come amid reignited interest in the SHIB price.

Optimism toward the popular dog-themed meme coin, Shiba Inu, is gaining traction following a recent price rebound at the beginning of the week triggered by a positive market sentiment. Despite recent price fluctuations, several analysts are confident that SHIB is still capable of a short-term rally.

Shiba Inu (CRYPTO: SHIB) is up 2% in Wednesday trading and continues to burn tokens, fueling trader speculation about positive price action on the horizon. What Happened: Data from Shibburn shows Shiba Inu's burn rate increasing by 3,674%in the past 24 hours.

Crypto markets cheered Donald Trump's win by pushing Bitcoin to a new all-time high above $75,000, signaling the start of the next leg of the uptrend.

Dogecoin and the Shiba Inu price have recorded double-digit rallies in the last 24 hours, up 25% and 10%, respectively. The foremost meme coins have witnessed these massive price rallies thanks to developments in the US election, which present a bullish outlook for them.

Today marked not only a new all-time high for Bitcoin but also a major breakout on the Shiba Inu (SHIB) price chart. According to Binance, the popular meme-inspired cryptocurrency "shot up" 11.44% today, going from $0.00001785 to $0.0000199.

Shiba Inu's price held steady on Wednesday as most meme coins bounced back, with a golden cross pattern nearing. Shiba Inu (SHIB), the second-largest meme coin, rose to $0.000020, marking an 82% increase from its lowest level in August.

Shiba Inu (SHIB) surprised the crypto world with a massive burn rate spike of 3,674% in just one day. With over 53 million SHIB tokens sent to burn wallets, this effort is a big step in Shiba Inu's mission to reduce its circulating supply.

After facing recent volatility and liquidations summing up to approximately $350 million, Bitcoin price is now settling at $73,000. With this in mind, investors are searching for potential alternatives that could earn them good profits.

The price of Shiba Inu (SHIB) has risen above the moving average lines for the fourth time as it recovers from the low of the chart. SHIB is currently trading above the moving average lines.

Shiba Inu (SHIB), the second-largest memecoin by market capitalization, has seen an 8% daily surge following Bitcoin's surge to $70,000. Amid the market volatility, the token is trying to recover a key resistance level, which could propel the price to a 110% rally.

Amid a remarkably bullish market on Tuesday, the SHIB meme cryptocurrency once again nabbed substantial investor attention by displaying a whopping surge in its burn rate. Recent stats indicate that the Shiba Inu burn rate witnessed a remarkable 3674% uptick, projecting bullish market sentiments on the coin's future price movements.

Shiba Inu (SHIB) price, a popular meme cryptocurrency, has seen a significant uptick in price amid a broader market recovery following the recent U.S. elections. The post-election market uplift has invigorated the crypto sector, positioning SHIB to capitalize on the strengthened outlook following former President Trump's win, sparking renewed activity across the digital asset landscape.

Shiba Inu (SHIB) is in the spotlight in the meme coin world today as its most important metrics are in the positive zone. In particular, the SHIB burn rate has skyrocketed by 3,674% in 24 hours, sending 53,312,864 SHIB to dead wallets.

Shiba Inu's Shibarium layer-2 scaling solution is back at near-full capacity, driving renewed investor interest and increased network activity.

The value of Pepe remains under pressure, while the S.H.I.B. initiative aims to make the United States a hub for blockchain.

Strong momentum in the asset's price action is indicated by Shiba Inu's notable 30-day high. Investors have taken notice of this upward trend and many are now speculating about whether SHIB can continue to rise and possibly reach its all-time high (ATH).

Shiba Inu (CRYPTO: SHIB), the second-largest meme coin by market capitalization, surged Tuesday night, joining the broader market rally pinned on Donald Trump's increased odds of victory. What happened: The popular dog-themed cryptocurrency spiked over 10% in the last 24 hours, taking its market capitalization past $11 billion.

Shytoshi Kusama, Shiba Inus lead, has introduced the S.H.I.B. initiativea high-stakes proposal to transform the U.S. into a global blockchain leader.

Shiba Inu (SHIB) is charging ahead with a 40% rise in trading volume, signaling revived bullish momentum as it nears a golden cross formation. This potential technical breakout could spark further gains, with SHIBs price currently up 6.1% to $0.0000179.

Around $68,685, the price of Bitcoin is beginning to show indications of a possible reversal, suggesting a fresh upward trend toward or perhaps above the $70,000 mark. Following resistance close to recent highs, Bitcoin has consolidated steadily, indicating that buyers may regain control for a bullish continuation.

Shiba Inu (SHIB) faced downward pressure on Monday, slipping 1.71% over the past 24 hours to $0.00001678 amid broader market consolidation.

SHIB's detailed proposal to Kamala Harris & Donald Trump on election day accelerates a 8% rally for the canine crypto.

Shiba Inu (SHIB) price is showing signs of potential growth, with multiple indicators suggesting room for an upward trend. After 5% gains in the last 24 hours, the 7-day MVRV metric highlights that SHIB holders are near break-even, reducing immediate selling pressure and allowing space for further gains.

Pseudonymous crypto trader Nachi has voiced strong confidence in Donald Trump winning the presidential election, resulting in a bullish outlook for AI-driven meme coins, particularly Goatseus Maximus (CRYPTO: GOAT). What Happened: The trader highlighted on X that Solana (CRYPTO: SOL) meme tokens like Popcat (CRYPTO: POPCAT) and Dogwifhat (CRYPTO: WIF) have recently corrected to attractive buy levels.

Here's the latest threat for SHIB users.

Bitcoin's resilience may keep crypto unaffected by the 2024 US election. Economic trends, and not political shifts, drive crypto growth and long-term value.

Bears are not going to give up so easily, according to CoinStats.

The role of artificial intelligence in price forecasts

Today, the SHIB price appears to breathe new life with a reversal of its recent downtrend, reigniting anticipations of a bullish golden cross. The post Shiba Inu's Golden Cross Faces Resistance – What SHIB Traders Need to Know Now appeared first on Cryptonews.

TL;DR The creation of a strategic hub for blockchain innovation in the US, called SHIB, is proposed The plan includes economic incentives, talent development, advanced infrastructure and sustainable practices. The initiative seeks to position the US as a global leader in blockchain technology and sustainable development.

Shiba Inu (SHIB) has seen its fair share of ups and downs in recent weeks, but one technical indicator that traders have been eagerly anticipating—the golden cross—has faced a significant setback. A golden cross, a widely-followed bullish signal in technical analysis, occurs when a short-term moving average (like the 50-day) crosses above a longer-term moving average (such as the 200-day), signaling potential for price momentum to the upside.

The popular meme-inspired cryptocurrency Shiba Inu (SHIB) saw more than 40% growth in trading volume today, according to data from CoinMarketCap. Currently, Shiba Inu tokens have a combined turnover of nearly $400 million on the spot markets.

The Shiba Inu (SHIB) ecosystem is seeing a positive change as Shibarium, its layer-2 scaling solution, is operating at near-full capacity again. This comeback comes after network struggles and SHIB price rebounds, showing that investors and the wider crypto community are regaining confidence.

Shiba Inu (CRYPTO: SHIB) is up 3.7% over the past 24 hours as positive news from its community bolster sentiment. What Happened: Pseudonymous lead developer Shytoshi Kusama suggested establishing a blockchain innovation hub in the U.S., inviting presidential candidates to endorse a "Silicon Valley" for the blockchain sector.

SHIB's bullish breakout shows promise, but resistance levels will determine its next move.

It is possible that Shiba Inu is about to surpass a six trillion SHIB transaction volume, which would indicate increased activity and interest from major holders. The number of large transactions and overall transaction volumes fluctuate according to on-chain data, reflecting periods of interest in SHIB trading activity as well as periods of stagnation.

Shytoshi Kusama, the lead developer of Shiba Inu, has unveiled an ambitious proposal to establish a “Strategic Hub for Innovation and Blockchain” (S.H.I.B.) in a United States city aka the “The Silicon Valley of Crypto.

Kusama stated that the project would give a very strong return, yielding $10 for every $1 invested over a decade.

As Americans gear up to cast their votes in the US presidential election, Shytoshi Kusama, the lead developer of Shiba Inu, has unveiled an ambitious initiative aimed at positioning the United States as a global leader in blockchain technology. This initiative titled the Strategic Hub for Innovation in Blockchain (S.H.I.B.

Shiba Inu's burn rate has skyrocketed, jumping 900% in the last week! On November 1, it saw a massive spike of 254,000%, with over 5.5 billion SHIB tokens burned.

At around 80%, the current dominance levels of Bitcoin (BTC) Ethereum (ETH) Tether (USDT) and USD Coin (USDC) on the cryptocurrency market suggest that the landscape may be changing. The market may see a reversal following one final push to this resistance level before the year ends, as the dominance of these core assets has historically peaked at about 82%.

DOGE's price surge came after the latest Musk interaction.

Check out which factors can trigger a SHIB price explosion.

As Americans prepare to vote for their next president, Shytoshi Kusama, the lead developer of Shiba Inu, has shared a big plan to make the U.S. a leader in blockchain technology. The initiative, known as the Strategic Hub for Innovation in Blockchain (S.H.I.B.

According to the data shared by the popular tracker Shibburn, over the last day the SHIB burn rate has fallen to zero. Still, curiously, there is a substantial amount of meme coins that were transferred to unspendable wallets.

Shiba Inu coin's team sparked a tidal wave of frenzy across the crypto landscape on Tuesday, revealing a proposal to introduce Strategic Hub for Innovation in Blockchain (S.H.I.B.) in the U.S. Notably, the meme coin's lead developer, Shytoshi Kusama, unveiled this proposal recently while also inviting “presidential candidates or interested parties” nationwide to jack up