Shiba Inu Shows Potential Breakout, Fueled by Strong Accumulation and Burn Rate

Shiba Inu (SHIB) is experiencing a period of strong accumulation, indicated by massive exchange outflows totaling 111.8 billion tokens. This suggests an influx of SHIB into long-term holders’ wallets. Additionally, the burn rate surged significantly, removing over 15 million SHIB from circulation in the past 24 hours. These factors contribute to a bullish potential technical setup with key breakout levels around $0.00001606 and targets reaching up to $0.00002834. Despite being range-bound, Shiba Inu is poised for a potential breakthrough.