3,333,333 SHIB in 24 Hours: What's Behind Weird Numbers?

The Shiba Inu and the crypto community were quick to notice a strangely specific figure in the latest burn update provided by Shibburn: 3,333,333 $SHIB burned in the last 24 hours. While it could simply be a numerical fluke, it has sparked curiosity as it coincides with the Shiba Inu price rebound after days of drops.

Interestingly, the 3,333,333 $SHIB was burned in a single burn transaction, which adds another layer of intrigue to the overall narrative. While the number may appear symbolic, or it might even be deliberate or just a mere coincidence, some may interpret it as a hidden signal; the implications are mixed.

According to data from Shibburn, the 3,333,333 $SHIB burned marks a 78.26% drop in the daily burn rate. This marks a decline in comparison to previous days, when burn rate surged four or even five figures. On May 17, for instance, the daily $SHIB burn rate soared 106,040.49%, with 15,330,933 $SHIB being sent to dead wallets.

However, in the past seven days, 120,817,453 $SHIB have been burned, according to Shibburn, representing a 120.98% increase in the weekly burn rate. This suggests that despite the recent drop in daily burns, the community continues to ramp up efforts to reduce the $SHIB total supply.

$SHIB price rebounds

Shiba Inu ($SHIB) is showing slight signs of recovery after last week's profit-taking. Following four consecutive days of decline since May 14, which hit lows of $0.00001398 on May 17, Shiba Inu has slightly rebounded.

At the time of writing, $SHIB is up 3.39% in the last 24 hours, trading at $0.00001468, according to CoinMarketCap data. However, the dog coin remained down 8.35% weekly.

The market is watching $SHIB to see if it can sustain its upward momentum or if the rebound is simply a dead cat bounce.

If upward pressure sustains, resistance is at $0.00001765 and the daily SMA 200 at $0.00001826; if selling pressure returns, support is envisaged at $0.00001398 and the daily SMA 50 at $0.00001319.