⏭️⏭️(FOLLOW ME ❤️ 🫶)⏮️⏮️
Shiba Inu (SHIB) has dropped 22% from its recent high due to the crypto market sell-off, but there are exciting signs that the token could bounce back soon. Here’s what’s happening:
1. Strong Support Levels 🛡️📈
SHIB’s price is holding firmly at the 50-day moving average, a level it hasn’t fallen below since September 2023. It’s also staying above the Ichimoku cloud ☁️, a bullish indicator that suggests the uptrend is still intact.
The price chart shows a cup and handle pattern forming—a powerful bullish signal! If SHIB breaks above $0.00002941, it could rally to $0.0000477. 🚀✨
2. Burn Rate Spikes 🔥🔥🔥
SHIB’s burn rate has skyrocketed by 4,766%, with over 5.2 million tokens burned in a single day. So far, a massive 410 trillion tokens have been burned! 🔥🔥
Burning reduces the token supply, making SHIB more valuable over time. This burn activity is fueled by its ecosystem features like Shibarium and ShibaSwap. 🌐💎
3. Steady Investor Activity 🤝📊🌟
Despite the price drop, investor confidence remains strong. New SHIB addresses grew by 9.10% last week, while active addresses only dipped slightly by 5.96%.
The total number of SHIB holders is now at 1.37 million and climbing! 📈🚀
What’s Next for SHIB? 🧐✨
If SHIB holds above its key support at $0.00002275, it could aim for $0.00002941 soon. Breaking above this level could see the token surge to $0.0000477! 🌠📈
However, if it dips below $0.00002275, the bullish outlook may weaken.
Summary 🌟💥
With strong support, a skyrocketing burn rate 🔥, and steady investor activity 🤝, SHIB looks ready for a potential rebound. Keep a close eye on its next moves—it might just surprise everyone! #BTC #Shiba #ETH #SOL #Binance
