Shiba

bullish

Shiba Inu

The post <a href="https://coinpedia.org/price-analysis/shiba-inu-burning-rate-surges-1251-shib-shows-bullish-signals/">Shiba Inu Burning Rate Surges 1251%, SHIB Shows Bullish Signals</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
The ongoing burning registers a massive 1251% surge in the burning rate of SHIB coins, taking the price back strong to the $0.000014 zone.&nbsp; 
Not every time but generally lower supply keeps pushing the price, but only of the community demand is intact. This time for SHIB, it looks favorable.&nbsp; 
<h2 class="wp-block-heading" id="h-shiba-inu-supply-is-reducing">Shiba Inu Supply Is Reducing</h2> 
Burning is a process of sending tokens to a dead wallet and never being recovered.&nbsp; 
As seen in the Shibburn site, the SHIB&nbsp; burning spiked to 1251%&nbsp; in the last 24 hours, burning ​​28,648,321 SHIB and a total so far of 410.7 trillion SHIB.&nbsp; 
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 <img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXe2OvaZBAFjUm1iNjGFP64EFwGehJk4R5KJ4A2eFoWdju2X2w9AIJgupkT_6eP28FOW8aXlxPKdzqvOHzXbgPw9SFJLfVC_gDkvY67hkdFSpMOjJP8Q9Mbj3xKIhcLZdM7frThmUgXbiKHt5EpfLJ-uteA?key=LYdriVZSgXp2r4FpXAwzhw" alt="">
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Source: <a href="https://www.shibburn.com/">Shibburn</a> 
Amid the burning progress, SHIB saw an increase in demand to boost up Shiba In price 6.79% in the last 7 days and the trajectory remains upward. 
Looking at an important metric ‘The Sharpe Ratio”, measures risk-adjusted returns about the volatility of the asset. A positive result indicates a manageable risk-reward and a negative one shows the intensity of risk involved. 
In the case of SHIB, the Sharpe ratio on August 19 was at -5.43, showing growth by reducing to -3.5 at the time of writing.&nbsp; 
This shows the improvement in the Sharpe ratio and indicates the asset may be moving towards profits making to investors. 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXfGkl7MHnsh8If2llusQ84zDIkAVV3QcgsaGlbh525TJ1-ZyhfUhM0Tfo9tDeHmib2YrzlYvgQyIFqxomi4l4syRSxsTXP1GTv1GtjlpTHs0AMmdNWTJiGjOvvG2f-6XG3CvgRf17UwAA7cyFdJTEV4KWDl?key=LYdriVZSgXp2r4FpXAwzhw" alt="">
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If the Sharpe ratio turns positive, we might see SHIB nearing $0.000018.&nbsp; 
<h2 class="wp-block-heading" id="h-shiba-inu-prediction-nbsp">Shiba Inu Prediction.&nbsp;</h2> 
In the SHIB/USDT 4-hour chart, we can see the price action moving in an ascending bullish channel pattern. The 2 upward trendlines create ascending resistance and the lower ones form Support.&nbsp; 
Should this pattern continue SHIB coin will see an upward rally. 
The MACD of SHIB now is strong and positive, showing a crossover to Bullish Momentum. The 12-day EMA is seen crossing the 25-day EMA, indicating the dominance of buyers and a bullish outlook.&nbsp; 
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 <img decoding="async" width="1024" height="439" src="https://image.coinpedia.org/wp-content/uploads/2024/08/23155649/image-396-1024x439.png" alt="" class="wp-image-341903" srcset="https://image.coinpedia.org/wp-content/uploads/2024/08/23155649/image-396-1024x439.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/08/23155649/image-396-300x129.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/08/23155649/image-396-768x330.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/08/23155649/image-396-1536x659.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/08/23155649/image-396-2048x879.png 2048w, https://image.coinpedia.org/wp-content/uploads/2024/08/23155649/image-396-150x64.png 150w" sizes="(max-width: 1024px) 100vw, 1024px">
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With the current market condition being upward, SHIB fundamentals and technicals show positive signs the Shiba Inu price is expected to hit $0.000016.&nbsp; Conversely, if things fail to hold, we can also see a drop again below $0.000014.&nbsp;

Shiba Inu Burning Rate Surges 1251%, SHIB Shows Bullish Signals

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