Dog-themed meme coin SHIB is off its leash, with a double burn rate sparking an exciting price breakout
Only a few days ago, SHIB demonstrated an upward price trend after successfully breaking out of an ascending triangle pattern. This bullish pattern hinted at a substantial rise in the coin's value, and the prediction came to fruition. The surge in volatility that followed the breakout proved to be a catalyst for the ongoing momentum thatNow, this growing momentum has also influenced the SHIB burn rate, which refers to the intentional removal of tokens from circulation.
community is now eyeing the next target, the 200 EMA line situated around $0.00000920. Although the price may fluctuate before reaching this point, a successful breakthrough could signal a definitive change in trend.Nonetheless, traders should approach this situation with caution. While the rising burn rate and successful price breakout are undoubtedly promising, they also come with their fair share of risk.
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