Shiba Inu’s (SHIB) 41,016% Burn Surge and AI Whitepaper: What’s Next for SHIB?
- SHIB’s burn rate surged by 41,016%, with 2.26 million tokens burned in 24 hours.
- Kusama’s SHIB AI whitepaper envisions a radical shift in decentralized AI integration.
- SHIB price shows moderate strength, holding above key support, but momentum is slowing.
Shiba Inu (SHIB) has generated fresh excitement with a significant increase in its burn rate and the release of its long-awaited AI whitepaper. The developments come at a time when the meme coin has been quietly reshaping its identity. These events have added fuel to the ongoing push for SHIB’s evolution from meme to a multifaceted cryptocurrency.
According to Shibburn data, the rate of SHIB burning increased by 41,016% within a 24-hour period, with a total of 2.26 million SHIB tokens burned. Additionally, over 111 million SHIB tokens were incinerated over the past week.
SHIB AI Whitepaper Ignites Community Surge
Alongside the surge in burn transactions, Shytoshi Kusama released the much-anticipated SHIB AI whitepaper. The document had been long expected by the community. Kusama paper envsions a radical shift in centralized and decentralized AI integration to contribute to community outreach and SHIB ecosystem growth.
The whitepaper addresses multiple industries, such as gaming, content creation, and real-life uses. The excitement is driven by Kusama and the strong rhetoric, stating that the developer has traveled in time to foresee the future of SHIB.
SHIB Price Holds Steady, Momentum Slows
On the price front, SHIB shows moderate strength on the daily chart. The current price stands at $0.00001564, marking an increase of 0.96% over the past day. The asset has climbed steadily since the July 15 low, with a series of higher highs and higher lows. Recent price action, however, suggests some indecision, with alternating bullish and bearish sessions.
SHIB’s market sentiment still remains cautiously favourable. But as long as the price remains above the 50-period SMA. A breakout above recent highs could prompt a continued rise. On the other hand, a decline below $0.00001454 may lead to a retest of deeper support levels at $0.00001313 and $0.00001247.
Related: Shiba Inu Price Targets $0.000034 After Trendline Breakout
The MACD (12, 26, close) confirms a bullish momentum. The MACD line is above the signal line, and the positive momentum is also confirmed. Furthermore, the histogram also indicates elevated green bars, and this means escalating buying pressure and momentum, indicating that SHIB may further its bullish trend.
Coinglass also reported a distinct trading volume which increased by 76.03% to hit the mark of $629.77 million. The open interest also increased by 10.35% to $318.70 million. This is an indication of a new interest in the market and increased confidence in the future of Shiba Inu.
With burn rate and price action having only just begun, a change in strategic direction as outlined in the whitepaper represents a shift towards a more widespread and sustainable experience. Whether SHIB is well on track towards adoption as a more permanent staple in the cryptocurrency world will depend on whether it continues to build on this momentum.
