# What Caused SHIB To Jump 10% Today?
Shiba Inu (SHIB) saw a 10% increase on March 26, hitting a daily peak of $0.00001485. This pushed its market cap to $8.6 billion, exceeding prominent competitors like Sui (SUI) and Hedera (HBAR). According to CoinGecko, SHIB has risen to become the 19th biggest crypto asset.
SHIB escaped a downtrend lasting weeks because of a rise in its burn rate and increasing investor curiosity in new advancements within its environment.
Several elements are fueling SHIB’s increase today:
To begin, the Shiba Inu group previewed Shib Finance, a significant DeFi upgrade presenting a collection of financial instruments, consisting of reputation-based lending and undercollateralized borrowing. The upcoming platform seeks to combine TradFi and DeFi with environment functions like the Karma Engine, Shib Attestation, and a privacy-focused identity layer.
Second, SHIB was noted on BingX Futures, opening the way for over 10 million global users to trade the meme coin with leverage.
Third, its burn rate has recently risen dramatically. On March 23, Shiba Inu’s daily burn rate increased by almost 8,100%, reaching over 1 billion SHIB tokens burned in a single day. According to Shibburn, the network has burned over 410.74 trillion tokens since its beginning, leaving a circulating supply of approximately 589 trillion.
In addition, social feeling surrounding the token has become positive, especially after U.S. President Donald Trump published about the official Trump meme coin, TRUMP, on Truth Social, reigniting interest in meme coins. TruBit Collaborates with Morpho to Introduce DeFi Unearned Revenue in Latin America
According to Santiment data, the number of daily active addresses on the network has also increased by over 20% since March 18. SHIB’s on-chain metrics also reveal indications of growing positive belief.
## SHIB Cost Evaluation
On the daily chart, SHIB recently appeared out of a falling wedge pattern that had formed over the previous four months, which is a standard bullish setup.
The latest breakthrough might point to a pattern turnaround for SHIB, possibly arranging the scene for an ascending rise.
Open interest has soared over 26% to $160 million, displaying expanded capital stream into SHIB prospects. Moreover, its OI-weighted financing rate has become positive, with subordinates information supporting a hopeful viewpoint. Having broken through short-term moving midpoints, SHIB shows up arranged to target the 75-day EMA around $0.00001575, with a cost floor close $0.0000123 acting as strong bolster. The rise over the 25-day and 50-day moving midpoints marks the primary sign of reversal since the downtrend in February. Ought to bullish volume endure, this breakout would affirm a bottoming design, clearing the way for encourage picks up. Crypto investigators recommend SHIB might rally 20% within the brief term after breaking key resistance and completing a standard reverse head and shoulders design.
Given these idealistic signals, SHIB’s another potential target shows up to be $0.00002485, which not as it were marks its year-to-date tall but moreover speaks to a generally 65.7% increment from the current $0.000015 cost level.
The Cash Stream Record is additionally climbing but has however to reach overbought region. The MFI tracks buying and offering weight, and its rise proposes that buying weight is outpacing offering weight, which might offer assistance drive SHIB assist in case the uptrend holds.
Disclaimer: This article does not comprise venture counsel. The materials and substance on this page are for instructive purposes as it were.
