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Amid the ongoing price decline, Shiba Inu (SHIB), the popular and second-largest meme coin, has seen a rise in its token burn rate and is now gaining significant attention from crypto enthusiasts.
SHIB Burn Rate Jumps By 640%
Today, a blockchain-based Shiba Inu SHIB token burn tracker posted on X (formerly Twitter) that the Shiba Inu community has witnessed a 640% surge in the token burn rate in the past 24 hours.
The post on X further added that during this period, the community burned a total of 15,493,929 SHIB tokens. However, it also mentioned that a significant 541,922,921 SHIB tokens have been burned in the past seven days, marking a 622% increase.
Current Price Momentum
Despite the rise in token burning, the ongoing bearish market sentiment has sparked hopes of a price recovery. In the crypto industry, when a token or asset is burned from the total supply, it is considered a positive and bullish sign.
However, despite this, SHIB has recorded a 5% price drop in the past 24 hours and is currently trading near $0.0000124. Additionally, during the same period, its trading volume declined by 37%, indicating lower participation from traders and investors compared to the previous day.
Shiba Inu (SHIB) Technical Analysis and Upcoming Levels
With this recent price drop, the meme coin has reached a crucial support level, which it has been testing since March 9, 2025, along the ascending trendline.
Additionally, SHIB’s four-hour chart shows that the meme coin has been forming lower highs and lower lows since February 2025. During this period, SHIB found support at the ascending trendline but later broke down and declined. Since then, it has continued following the same pattern.
Source: Trading View
Based on historical patterns and recent price action, if the meme coin falls and closes below the $0.00001215 level, there is a strong possibility it could drop by 10% to reach the $0.0000111 level in the coming days.
On the other hand, if this pattern fails, there is a strong chance that the price will soar, leading to a potential reversal.
The post SHIB Burn Rate Soars 640%, But Price Drops – What’s Next? appeared first on Coinpedia Fintech News
Amid the ongoing price decline, Shiba Inu (SHIB), the popular and second-largest meme coin, has seen a rise in its token burn rate and is now gaining significant attention from crypto enthusiasts. SHIB Burn Rate Jumps By 640% Today, a blockchain-based Shiba Inu SHIB token burn tracker posted on X (formerly Twitter) that the Shiba …
Onyxcoin (XCN) has faced challenges in the past month, with its price largely stagnating. The lack of bullish movement is likely a result of opposing forces—investor behavior and market conditions—acting on the cryptocurrency.
However, there is some positive news surrounding the upcoming OIP-56 proposal, which will bring gas-free voting for the users. This could act as a trigger for XCN price rise.
Onyxcoin Is Overvalued
The NVT (Network Value to Transactions) ratio for Onyxcoin is currently at a five-month high, which indicates a sharp rise in network valuation relative to transaction activity. This spike signals a potential overvaluation of XCN, as the network’s actual transaction activity is not keeping pace with its valuation.
This discrepancy can create a sense of inflated value, which historically points to a price correction. With the NVT ratio showing a disconnect between price and real-world usage, Onyxcoin could experience increased selling pressure if investors start to realize the overvaluation.
Despite the signs of overvaluation, Onyxcoin is not facing significant bearish momentum, as shown by its Relative Strength Index (RSI). Currently, the RSI is sitting above the neutral 50.0 mark, indicating that, although the market is less favorable, XCN is still in a positive price zone.
The RSI’s position suggests that Onyxcoin could remain relatively stable or even experience some upward momentum. If the broader market conditions improve or if OIP-56 succeeds in providing further utility to the network, the price may have the potential to recover.
Onyxcoin’s price is currently trading at $0.0180, consolidating between $0.0214 and $0.0165. The lack of bullish momentum in the past few weeks has kept the price from rising above $0.0214, reflecting market hesitation.
Given the mixed signals from both market sentiment and technical indicators, Onyxcoin’s price may continue to consolidate in this range for the time being.
This consolidation phase is likely to continue unless a significant catalyst pushes the price in one direction. If market conditions worsen, Onyxcoin could face a drop below the $0.0165 level, possibly falling to $0.0150.
This would further validate concerns about the cryptocurrency’s overvaluation and could signal a deeper correction in its price.
However, if Onyxcoin’s price begins to align with investor behavior and bullish momentum, it could break past the $0.0214 resistance. This would pave the way for a potential rise to $0.0237 and eventually towards $0.0300.
A successful breach of these levels would invalidate the current bearish outlook, indicating a stronger uptrend for Onyxcoin in the near future.
Solana price is stuck within the range of $140 and $150, but a deep dive into technical analysis suggests that the altcoin may reach $300 soon. Moreover, robust fundamentals, including a surge in SOL staking volumes, support this bullish outlook.
SOL value today trades at $150 after facing rejection at the $153 resistance level. The token eyes more gains this weekend amid a positive shift in the broader market sentiment after Bitcoin broke above $97,000 for the first time in two months.
Solana Price Eyes $300 After Bounce From Critical Trendline
The Solana price is about to enter a recovery phase that may culminate in a 100% surge to $300. This is according to analyst Mihir, who observed that SOL has been trending upwards since 2023, and defending resistance at the lower ascending trendline.
In his analysis, Mihir noted that each time the SOL price bounces from this trendline, it goes on an uptrend. In 2023, the token recorded a 2x rally after making such a bounce, and later in 2024, SOL went on a parabolic bull run from below $20 to an all-time high of $294 after recovering from this support level.
Solana Price Chart
If history rhymes, Solana may have entered a recovery phase, which may push the price upwards to as high as $300 in the near term. This bullish leg may occur in the coming months.
SOL Overtakes Ethereum in Staking Volumes
SOL price also eyes gains after analyst Colin Wu noted that Solana has surpassed Ethereum in staking volumes, a phenomenon that has sparked discussions within the crypto community about whether SOL is now a more secure layer 1. Solana staking volumes stand at $61 billion, which is slightly higher than Ethereum’s $58.7 billion.
While this data suggests that validators are favouring the Solana network over Ethereum, the latter still leads in terms of blockchain security. However, this surge may still fuel a Solana price rally as high staking volumes indicate that a majority of tokens are being taken out of the circulating supply, which may trigger a supply squeeze if demand surges.
Solana Four-Hour Chart Signals Rally
The four-hour Solana price chart teases that this altcoin is on the path towards a bullish breakout if it can overcome crucial resistance hurdles at $153 and $180. If it clears these levels, SOL might make a run up to $205 and kickstart an uptrend towards $300.
The RSI supports this bullish Solana price forecast, after its recent bounce above 50, suggesting that the bullish momentum is growing strong. However, this indicator needs to make a series of higher highs for the bullish continuation to play out. If it drops below 50, it will invalidate this bullish thesis and trigger a downtrend to support at $115.
SOL/USDT: 4-Hour Chart
To sum up, Solana price is flashing bullish signals, with its bounce from a descending trendline and robust fundamentals suggesting that a move to record highs may be on the horizon. The four-hour chart shows a major hurdle at $153 that SOL needs to overcome to avert going back to a downtrend.
