The post Shiba Inu Price Could Soar as Social Activity Spikes 126% Overnight appeared first on Coinpedia Fintech News
Shiba Inu (SHIB) is back in the spotlight, but not just for its meme power. In the last 24 hours, SHIB’s burn rate dropped sharply by nearly 88%, yet the coin’s price continues to climb. With a 6.6% gain and several bullish signals lining up, many believe SHIB could be gearing up for a much bigger move.
SHIB Burn Rate Crash Drop
According to the Shibburn data, just 180,292 SHIB were destroyed in the past 24 hours—a massive drop from earlier burn activity. However, the Shiba Inu community remains committed.
Over the last week, they’ve removed more than 46 million tokens from circulation by sending them to “dead wallets.” This slow reduction in supply could help support SHIB’s price in the long run.
Exchange Reserves Hit One-Year Low
Adding to the bullish setup, Shiba Inu’s exchange reserves have fallen to their lowest in a year. Only 83.8 trillion SHIB tokens (worth around $1.14 billion) are sitting on exchanges worth around $1.14 billion.
Lower exchange supply often means less selling pressure, which could help the price rise further if demand picks up.
Shiba Inu Social Activity Jumped by 126%
SHIB is also trending again on social platforms. In the last 24 hours, social activity around SHIB has jumped by 126%, the highest it’s been since January. This rise in chatter means more people are talking about SHIB, which often leads to more buying interest.
If the trend continues, this growing activity could push more traders to jump in, adding fuel to SHIB’s current price momentum.
Shib Chart Hints Bullish Surge
On top of that, the Shiba Inu chart hints bullish surge as one of the key signals is the “golden crossover,” when the 20-day EMA moves above the 50-day EMA. This technical pattern is often seen as a sign that a strong uptrend is about to begin.
The last time this crossover appeared, SHIB jumped from $0.00001320 to $0.000017. This time, the crossover is forming again, right near the $0.00001358 level, raising hopes that history could repeat itself.
