SHIB burn spikes and whale accumulation hint at a breakout above descending channel resistance.

• SHIB burn rate spiked to 103,222%, with over 102 million tokens destroyed in 24 hours.
• Exchange outflows hit 25.19B SHIB, suggesting strong accumulation despite low volatility.

Shiba Inu [SHIB] has recorded a staggering 103,222% spike in its 24-hour burn rate, wiping out over 102 million tokens and tightening the circulating supply. 

This sharp deflationary move arrives as the broader market sees mixed signals, with SHIB’s price slipping by over 3% in the past day. 

However, such an aggressive burn rate could renew bullish sentiment and build speculative momentum. 

Historically, SHIB burn spikes have aligned with periods of increased trader interest and reduced sell-side pressure.