Shiba Inu (Shib) is back under the spotlight because its burning rate increased by 390%. However, millions of Shibets have been removed from traffic, arousing excitement among investors. Meanwhile, the price of the shib token does not see such optimistic impulse, but the well -known cryptography analyst, Ali Martinez, thinks that a strong recovery could happen, citing a weekly graphic signal.
The Shiba Inu burning rate sees a massive peak
Blockchain Tracker Shibburn reported A strong increase in the sirmed burning rate in the last 24 hours, with a total of 16,479,283 shib chips permanently removed from traffic.
Apparently, the largest single transaction alone burned 13,717 986 Shib, while another important transaction saw 2,026,165 shib burns.
Despite this daily increase, weekly burns have slowed down. In the past seven days, a total of 61,082,353 shib tokens has been destroyed, marking a 94.82% drop in the burning rate.
However, this temporary slowdown did not attenuate the belief of SHIB holders who hope for a potential price rally.
Purchase signal for SHIB
Upper analyst Ali Martinez indicated a strong purchase signal for Shiba Inu on the basis of the TD sequential indicator. In his latest analysis, Martinez stressed that the weekly Shib’s weekly candle table suggests a potential bullish overthrow.
https://twitter.com/ali_charts/status/18894312155549972?t=mnub4jm2Lorru0xcblq3a&s=19
Although it has not specified a price objective, past trends suggest that such signals often lead to upward movements.
Likewise, Martinez had previously predicted Shib would increase to $ 0.000029Predicting almost 90% compared to the current price level of 0.0000159 on the basis of a similar purchase signal.
Although the TD sequential indicator has experienced a mixed success, analysts think that the combination with wider market trends could increase its reliability.
Shib forming a rare golden cross
According to the analysis of the Shiba Inu prices, Shib has formed a rare golden cross on the weekly graphic, a strong bullish signal. From now on, Shib is Exchange at $ 0,000016With a slight increase in the past 24 hours, while its market capitalization has reached $ 9.4 billion.
Meanwhile, the last time Shib formed this scheme was in February 2024. However, shortly after, its price jumped 377% in March, reaching 0.00004567 $, a level not seen since 2021 .