#Gate股票观点挑战

Shiba Inu’s daily burn rate surges 1,020%

In the last 24 hours, 20.95 million Shiba Inu tokens were burned, causing the daily burn rate to jump by 1,020%.

After dropping to a low of 2,551,224 SHIB at the end of August, the burn rate has rebounded sharply according to the latest data.

Following its August 22 peak, the price of $SHIB remains below key resistance levels and is currently testing the $0.000005 support level.

Heightened expectations for interest rate hikes following the Fed meeting have intensified the broader market pressure seen over the weekend.

According to data from Shibburn, 20.95 million SHIB tokens were sent to inaccessible wallets in the last 24 hours, pushing Shiba Inu’s daily burn rate up by over 1,020%. Burning refers to the permanent removal of tokens from circulation.

This surge in daily burning follows a period of sluggish activity over the past few days. While over 40 million SHIB were burned on August 23, the figure subsequently dropped to around 5 million. By August 29, the daily burn rate had fallen to 2,551,224 SHIB. The latest data marks a sharp reversal of this trend.

A total of 85.48 million SHIB tokens have been burned over the last seven days; however, the weekly burn rate declined by 46.20%. The total amount burned over the past 30 days stands at 607.34 million SHIB.

To date, 410,844,015,547,496 SHIB—representing a portion of Shiba Inu’s initial 1 quadrillion supply—has been burned across a total of 21,690 transactions. The transfer of 20.95 million SHIB to inaccessible wallets over the past 24 hours pushed the daily burn rate up by more than 1,020%.

Price resistance zones are being monitored.

The price of SHIB rose by 0.81% in the last 24 hours. Nevertheless, the effects of the broader market downturn seen over the weekend persist. This market pressure intensified following cautious messages regarding inflation trends at the Jackson Hole symposium.
Kevin Warsh did not provide clear forward guidance at the Fed’s annual Jackson Hole meeting. Following the remarks, investors began pricing in a higher probability of an interest rate hike at the September policy meeting.

SHIB pulled back after rising to $0.00000623 on August 22. Although buyers attempted to regain momentum, the price fell below the 200-day moving average at $0.00000538 and remains below that level.

Initial resistance: $0.00000538

Other resistance levels: $0.00000553, $0.00000575, and $0.00000623

Support level to watch: $0.000005 zone

Daily 50-day MA: $0.0000047

Key resistance levels facing the price are $0.00000538, $0.00000553, $0.00000575, and $0.00000623. On the downside, the $0.000005 zone is being tested as support. If the decline continues, the market may attempt to establish the daily 50-day moving average at $0.0000047 as a support level.

August performance remained in positive territory.

The flattening of the daily RSI indicator at the 54 level reinforces the likelihood of range-bound movement in the short term. This outlook suggests that SHIB could fluctuate between the 50-day and 200-day moving averages prior to its next significant move. The fact that the daily RSI is hovering sideways at the 54 level suggests that SHIB could remain range-bound between its 50-day and 200-day moving averages for some time.

SHIB is down 6.85% on a weekly basis; however, it has gained 9.77% since the beginning of August. If current trends hold, SHIB could be on track for its second positive monthly close since June.
‍$SHIB