Millionaire Math: How much SHIB do you need to make it?

Navigating the ever-turbulent seas of cryptocurrency can be akin to a high-stakes treasure hunt. At the heart of this digital odyssey is Shiba Inu (SHIB), a cryptocurrency that has turned ordinary investors into millionaires, and left just as many kicking themselves for not holding on longer.

Timeline of Shiba-inu

Shiba Inu (SHIB) is currently positioned at the edge of a potential 15% price breakthrough on the SHIB/USDT chart. However, a closer look at the token's volume profiles and market behavior signals a major hurdle that could dampen the momentum needed for this leap.

Shiba Inu (SHIB), the meme cryptocurrency that has captured the hearts of the retail market, currently faces a critical juncture. The asset is eyeing a formidable resistance level, a threshold that has previously capped its price ascents.

Shiba Inu (SHIB) came into the limelight in 2020, and since then, it has been linked to a number of impressive milestones. One important growth aspect many are not focusing on in the Shiba Inu ecosystem is the rate at which its funded accounts grew.

The SHIB token burn rate saw a remarkable surge of around 60% in the past 24 hours, marked by the incineration of approximately 80 million tokens. This notable increase in burning activity follows speculations of a potential shift of the memecoin's focus toward artificial intelligence.

Shiba Inu's Shibarium network has introduced a new "Donate” feature. It is designed to provide a straightforward way for users to financially support the non-profit validators that play a major role in maintaining the network's efficiency and security.

According to data provided by the Shibburn wallet tracker, over the span of the last 24 hours, the SHIB army has transferred several tens of millions of SHIB to dead-end wallets — 49,806,773 Shiba Inu meme coins in total.

Shiba Inu (SHIB), the self-proclaimed Dogecoin killer, is once again amassing significant attention in the cryptocurrency universe as the SHIB community is continuously burning colossal amounts of tokens, with a significant surge in the last 24 hours on November 17. Subsequently, the Shiba Inu price witnessed an extremely marginal downfall as of writing.

Shiba Inu (SHIB) appears to be setting a new reference point in its deflationary metric, the burn rate, seeing the number of tokens sent to dead wallets overnight. According to data from Shibburn, the burn rate spiked by 1,327.08%, amounting to a total of 105,209,192 SHIB tokens that were set ablaze.

The spike in token burning aligns with the recent announcement that retired boxing star Manny Pacquiao's charitable organization will be adopting the Shiba Inu network. This strategic move is aimed at enhancing the fundraising initiatives of Pacquiao's charitable endeavors, introducing a new dimension to Shiba Inu's ecosystem and community engagement.

On the daily SHIB/USDT chart, it's observed that the meme coin is consolidating above the 200-day Exponential Moving Average (EMA), a substantial support level. In the past, a successful retest of this level has often led to upward price movements.