Shiba Inu Burn Rate Jumps 1,682% In Single Day: What's Going On?

Shiba Inu (CRYPTO: SHIB) is up 4%, with traders pointing to further upside thanks to the growing ecosystem momentum.

Trader Notes: Crypto trader Javon Marks suggested SHIB may be on the verge of a major bullish reversal, targeting +150% upside toward $0.000032.

Trader Carl Moon observed signs of a horizontal triangle pattern forming on the daily chart, signaling consolidation before a possible breakout.

Statistics: Shibburn data shows burn rate spiked 1,681.8% over the past 24 hours as the ecosystem removed 1.2 million SHIB. Over the past seven days, 21.3 million SHIB were burned.

Shibariumscan data shows daily transactions surged to 1.26 million as of Sep. 6 but again plunged lower to 490.23K as of Sep. 7.

Community News: Shiba ecosystem marketing leader Lucie emphasized the upcoming Astra Nova Townhall, which directly integrates with Shibarium and SHIB.

She noted it could drive new use cases, on-chain activity, and visibility, with BONE gas fees adding utility in gaming and survival mode applications.

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