Peter Smith
Shiba Inu (SHIB) just hit $0.00001283 – its best level since late August – and there's some pretty compelling reasons why this rally might have legs.
The headline grabber? SHIB's burn rate exploded 1,680% to torch 1.24 million tokens in a day. Sure, that's only $15 million worth on a $7.2 billion market cap, but it's removed over 410 trillion tokens from the 584.6 trillion supply. Less supply, higher prices – basic economics.
What's more interesting is the smart money movement. Whales have quietly stacked up 9.89 billion tokens – a massive 62% increase in just 30 days. When the big players are accumulating this aggressively, they usually know something.
SHIB Exchange Reserves Hit Multi-Month Lows
Exchange reserves tell the real story. They've dropped to 278 trillion tokens from 285 trillion last month – the lowest since June.
When people pull coins off exchanges, they're planning to hold, not sell.
Technical Setup Points to Major SHIB Breakout
The charts are lining up perfectly. SHIB broke above its 50-day moving average and busted out of a symmetrical triangle pattern. The RSI crossed above 50, MACD shows a bullish crossover, and there's solid support from a double-bottom at $0.00001020.
All roads point to the key resistance at $0.00001585 – July's high. That's 23% upside from here if SHIB can break through.
The combination of aggressive burning, whale accumulation, falling exchange reserves, and clean technical breakout is creating a perfect storm. Whether it plays out is anyone's guess, but SHIB has all the ingredients for something big.
Peter Smith
