🚨🚨🚨 Here’s Why Shiba Inu Price Is Soaring! 🚨🚨🚨
Shiba Inu (SHIB) has made a strong comeback, hitting its highest level since July 27! Let’s break down the reasons behind this explosive surge:
🚀 Price Surge: SHIB soared to $0.000017 on September 26, marking a remarkable 16.48% increase in just a short period.
What’s Driving the Surge?
💡 Shibarium Fees Skyrocket: On-chain data shows Shibarium’s fees rose to 438, a 1,522% increase from this month’s low of 27, indicating a massive spike in network activity.
🔥 SHIB Burn Rate Soars: The Shibburn platform reported a 640% jump in the SHIB burn rate in the last 24 hours, with 5,555,360 tokens burned—making SHIB even scarcer.
Shibarium's Role in SHIB’s Surge:
🛠️ Shibarium: A layer-2 network developed by Shiba Inu’s team, seeing increased transaction volume with 8,025 new transactions on Sept. 26, up from a low of 2,186 this month.
💸 BONE to SHIB Conversion: Part of Shibarium’s collected BONE fees are converted into SHIB and burned, boosting scarcity and value.
Meme Coin Rally Impact:
📈 Meme Coin Rally: The entire meme coin market has seen a rally, pushing the total market cap to $50.9 billion.
Pepe (PEPE) rose 7.5%
Mog Coin surged by 14%
Popcat increased by 15% in the last 7 days
Bullish Technical Indicators:
🗺️ Key Resistance Levels: SHIB crossed a crucial resistance point at $0.000016, forming a double-bottom pattern, signaling further momentum.
📊 Strong RSI: The Relative Strength Index (RSI) is rising, suggesting bulls are gaining control and targeting the next resistance level at $0.00002.
Net Token Outflow:
🔑 Bullish Signal: SHIB saw a net outflow of 41 million tokens from exchanges in the last 7 days, moving the total exchange supply to 25.48%. Investors are holding onto their tokens, which is a bullish indicator.
🌕 Will Shiba Inu continue its upward trend? With the burn rate rising, technical indicators flashing bullish, and Shibarium activity spiking, SHIB could soon hit the $0.00002 resistance level.
