Shiba Inu Coin (SHIB) price, the second most significant joke digital currency, is advancing with a positive stride, aligning with the optimistic crypto market that is edging closer to a landmark of $3 trillion. Post a recent dip in prices, investors have regrouped to make the most of their current stakes. Those who embraced dollar-cost averaging as prices descended witnessed a surge in their portfolios, with Shiba Inu Coin soaring by a remarkable 30% from the support level of $0.00002366. During the US business hours on Tuesday, SHIB is hovering around $0.0000308. Within a mere 24-hour span, the favored meme coin, themed around dogs, has risen by 12%, accompanied by a significant 186% surge in trading volume, which now stands at $2.16 billion.

Shiba Inu holds a market capitalization of $18 billion, positioning it at the 11th spot among other cryptocurrencies, including stablecoins. Following a recent tumultuous period where the price plummeted, Shiba Inu found a firm foundation at $0.00002366, a level supported by the 200-day Exponential Moving Average (EMA) depicted by the line in purple on the chart. This threshold played a crucial role in establishing newfound stability, alleviating shareholders from excessive overhead stress, while creating opportunities to capitalize on the market downturn. Thanks to a positive trajectory in Bitcoin's price, surpassing $70,000 earlier this week, Shiba Inu is now poised for further ascents. A significant development surfaces with the SuperTrend indicator, which had been signaling bearish trends since March 5 when SHIB hit its peak at $0.00004563 but has recently switched its strategy, aligning with SHIB's current price movements, thus highlighting a potential reversal in the trend.

Traders are keenly observing multiple four-hour candle closures above the $0.00003 mark to confirm the sustainability of this upward trend towards the peak levels registered in March at $0.00004563. If Shiba Inu Coin manages to successfully retest the $0.00003 level before rallying back to the resistance at $0.000035, the fear of missing out (FOMO) might induce a substantial upsurge, reigniting hopes for a return to recent highs and progressing towards the next significant milestone at $0.0001.

One of the notable features in the Shiba Inu Coin ecosystem is its token burn rate, perceived as one of the most comprehensive programs in the cryptocurrency domain. Since its inception, approximately 410 trillion SHIB tokens have been withdrawn from active circulation. Presently, Shiba Inu showcases a total supply of 589 trillion tokens. Nevertheless, with about 6.6 trillion SHIB locked in various staking mechanisms, only 582 trillion coins are currently in circulation. Over the past 24 hours, Shiba Inu has recorded a 27% surge in the burn rate, with roughly 27 million SHIB tokens directed to an inaccessible wallet. As the burn rate escalates, the demand and supply dynamics are anticipated to tilt in favor of fostering a larger market rally. A reduction in supply implies a significant decline in selling pressure, and with demand either maintaining or increasing, a surge is inevitable. This scenario could potentially catapult Shiba Inu Coin price to unprecedented highs.

In essence, the trajectory of Shiba Inu Coin showcases a favorable path ahead, accentuated by technical indicators and the structural mechanisms within the ecosystem. With a resurgence in investor interest, positive market sentiment, and dynamics like the token burn rate potentially fueling future rallies, the prospects for SHIB appear promising in the coming days.