Shiba Inu (SHIB) Price Rebounds 20% as Token Burns Surge, Setting the Stage for Further Gains

The Shiba Inu (SHIB) price is on the rise again, climbing 20% off its yearly low as the community ramps up token burns and large holders adjust their positions.

Shiba Inu (SHIB) price is rebounding again, adding 20% from this year’s low as the community ramps up token burns and large holders adjust their positions. The coin could see more gains if resistance levels are cleared.

Shiba Inu (SHIB) price is recovering steadily, and the token burn rate has surged by 3,277%

Shiba Inu (SHIB) price is recovering again, and the token burn rate has surged by 3,277% in 24 hours.

Shiba Inu (SHIB) price is up 20% from this year’s low of $0.00001080, which could be a double-bottom pattern. If the price manages to rise above the $0.00001500 resistance, it could open the door for a move toward the $0.00002000 level.

However, some analysts warn that a decline in large holders’ positions, also known as whales, could be a sign of a broader downturn.

Alternatively, it could be a sign of healthy redistribution as more users join the ecosystem and smaller holders increase their positions.

Shiba Inu price: What to expect

Shiba Inu price has recovered steadily since March this year, and the token burn rate has surged in recent days.

On Monday, over 28 million SHIB were burned in 24 hours, marking a 3,277% increase from the previous day’s rate. This brings the total SHIB burned to 11.48%.

The burning activity is heating up again as the community focuses on reducing the circulating supply of SHIB and increasing its scarcity.

”.@ShibArmy! 🔥 A staggering 28,086,808 SHIB tokens were burned yesterday! This marks an incredible 3,277% surge in the 24-hour SHIB burn rate. As of today, 11.48% of the entire SHIB supply has been irrevocably burned!”

This surge in burning activity could be a factor in SHIB price’s recovery, as it is seen as a bullish factor that could increase demand for the token.

However, some analysts believe that the decrease in whale holdings could be a sign of a broader downturn for SHIB.

Over the past 24 hours, large Shiba Inu wallets have decreased their positions by 9%. At the beginning of the day, seven wallets held over 743 trillion SHIB.

Now, the collective holdings of the ten largest Shiba Inu wallets stand at 735 trillion tokens, a decrease of nearly 80 billion SHIB.

This change is significant considering that the total circulating supply of SHIB is approximately 544 trillion tokens.

The decrease in whale holdings could be a sign that they are distributing their positions or that smaller holders are increasing their positions as the ecosystem grows.

It remains to be seen whether SHIB price will continue to recover or if it will face another downturn in the coming days.

Stacks (STX) technical analysis: Bulls could push for a move toward $1

Stacks (STX) price has climbed 45% since early April, when it hit a low of $0.47 and broke through a descending wedge pattern.

This move followed a bullish engulfing candle at the $0.50 support level, a zone that has acted as a strong pivot in the past.

The daily Relative Strength Index (RSI) also shows a bullish divergence, hinting at a possible move toward the $1 mark, especially if the price manages to clear the $0.75 resistance.

However, the bigger picture weekly trend suggests that there is more downside potential.

The RSI on the weekly chart is still below 50, and the MACD indicator could also herald another correction.

This suggests that Stacks price could see more short-term gains, but analysts warn that another correction could happen before a deeper recovery starts to form.

BlockDAG integrates new explorer for better usability and increased network activity

BlockDAG has upgraded its blockchain explorer to improve how users can explore and interact with the network.

The update, which was shared during AMA 7, delivers a simpler user interface, deeper transaction details, and stronger support for testnet and dApp activity.

It is designed to make the basics of tracking balances, reviewing blocks, and understanding the system faster for newcomers, while also providing developers with easier debugging, faster deployment, and a smoother way to interact with smart contracts.

Rather than making things more complex, BlockDAG is making the path clearer for everyone who uses the chain.

With better tools, activity increases naturally. A cleaner explorer means more daily users, more dApps being tested, and more active nodes. This contributes to boosting both coin utility and demand.

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