SHIB Rallies 3.1% as Token Burns Surge and Whale Activity Intensifies

• SHIB gained 3.1% as burn activity accelerated and millions of tokens left circulation.
• Whale activity strengthened, while exchange outflows suggested reduced immediate selling pressure.
• Shibarium activity improved, supporting hopes for a breakout above key resistance levels.

Shiba Inu — SHIB, has gained fresh attention after a 3.1% move over roughly 39 hours. The rebound came without one major news catalyst. Instead, several on-chain signals started pointing in the same direction. Token burns accelerated, exchange balances declined, and whale activity strengthened. Shibarium also showed renewed network activity. Together, these developments gave traders reasons to watch SHIB more closely. The recovery remains modest, but the combination could influence momentum if buyers push through nearby resistance levels.

Burn Spike Strengthens SHIB’s Scarcity Narrative

SHIB burn activity has accelerated sharply over recent days. One report showed a burn-rate increase of more than 618% within 24 hours. The spike removed roughly 11.35 million SHIB from circulation. That figure marked the largest daily burn since late July. About 3.35 billion SHIB had also burned over 30 days by August 14. Earlier data showed another 439% jump in the daily burn rate. That increase followed the removal of roughly 10.68 million SHIB.

… Continue reading the full article at the original source below.