Over 6 Million SHIB Tokens Burned, Renewing Speculation
- Surge in Burned Tokens: Over 6 million SHIB tokens were sent to burn addresses in the last 24 hours, resulting in a 37.28% increase in the daily burn rate, indicating the SHIB community's ongoing commitment to a deflationary strategy aimed at reducing market supply and potentially boosting investor interest.
- Increased Market Activity: SHIB ranks as the second most traded cryptocurrency on India's WazirX exchange, trailing only Bitcoin, which highlights strong demand for the token in Asian markets despite persistent volatility in the sector.
- Slight Price Rebound: The SHIB price increased by approximately 2% over the past 24 hours, currently trading around $0.00000641, a rebound that may be linked to the latest U.S. employment report, suggesting a temporary rise in market risk appetite.
- Long-Term Strategy Impact: Despite over 410 trillion SHIB tokens already burned, the remaining supply is still substantial, and the SHIB community continues to leverage token burning as a central element of its economic narrative, hoping to foster long-term token scarcity and influence investor perceptions.
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Technical Analysis for SCR
Technical Sentiment Analysis for Scroll (SCR). As of , Scroll (SCR) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 3 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for SCR stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, SCR is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Scroll (SCR) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.034 | 0.0392 | 0.0448 | 0.05 | 0.0556 | 0.0608 | 0.0664 |
| Fibonacci | 0.0392 | 0.0433 | 0.0459 | 0.05 | 0.0542 | 0.0567 | 0.0608 |
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