Leading meme token Shiba Inu (SHIB) is showing strong technical and fundamental signals of a potential bullish reversal, driven by an unprecedented surge in its coin burn rate.
Leading meme token Shiba Inu (SHIB) is showing strong technical and fundamental signals of a potential bullish reversal, driven by an unprecedented surge in its coin burn rate.
With over 9.5 million SHIB permanently removed from circulation in a single day, the deflationary mechanism of the Shiba Inu ecosystem is gaining renewed attention.
Shib Inu Coin Burn Frenzy – What You Need to Know
The permanent destruction of 9.5 million SHIB tokens is intended to cut down the circulating supply, increase scarcity, and ultimately push prices higher. However, investor sentiment remains cautious, with a majority of holders still sitting on unrealized losses.
Despite this, SHIB posted a modest 2.22% gain in the last 24 hours, currently trading at $0.00001180, with a daily high of $0.00001195. Trading volume has surged by 83%, signaling growing market interest.
Yet, the token is still trading nearly 85% below its all-time high, signaling significant upside potential for the meme coin.
SHIB Daily Chart: Breakout Imminent
SHIB is on the verge of breaking above a long-standing descending trendline as the price continues to respect the horizontal support zone near $0.00001000, which has acted as a historical demand level.
Source: TradingView
Currently at 49.32, the RSI is hovering just below the neutral 50 level. This reflects a market in equilibrium, but with any upward move, RSI is likely to cross into bullish territory.
The MACD line is on the cusp of crossing above the signal line in bullish territory while the BoP indicator is currently in negative territory (-0.13), signaling that bears still have a slight edge.
But if SHIB manages to clear the $0.00001250–$0.00001400 resistance, it could trigger a supply shock-fueled rally toward $0.00002500 and beyond.
While SHIB Maintains Support, Bitcoin Hyper Scale BTC Into the Future
With Shib Inu eyeing a historic rally similar to its 2021 run, Bitcoin Hyper ($HYPER) – a next-generation Layer 2 solution created to address Bitcoin’s slow transaction speed – has raised a massive $2 million in its ongoing presale.
Bitcoin Hyper is engineered to address Bitcoin’s shortcomings. It introduces an advanced infrastructure layer that maintains BTC’s security while enabling fast, scalable, and low-cost operations.
At the core of Bitcoin Hyper’s innovation is its integration of the Solana Virtual Machine (SVM), a move that brings lightning-fast execution and smart contract capabilities to the Bitcoin ecosystem for the first time.
Also, Bitcoin Hyper’s decentralized Canonical Bridge is central to its operation, allowing users to deposit BTC into the bridge and mint equivalent tokens on Bitcoin Hyper’s Layer 2.
Providing staking returns of up to 395% per annum, the $HYPER token can be purchased at the current price of $0.012175 per coin with 1 day, 9 hours until the next price increase.
Simply visit the official Bitcoin Hyper website and connect a supported wallet, like Best Wallet.
Then, choose the amount and simply swap crypto or use a card to complete your $HYPER purchase.
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