Shiba Inu (SHIB) has pulled back to a crucial support level, but several key fundamentals suggest the meme token could be gearing up for a rebound. A soaring burn rate, whale accumulation, and falling exchange reserves are all pointing to renewed bullish momentum.<\/p>\n\n\n\n
On Friday, September 26<\/strong>, SHIB was trading at $0.00001180<\/strong>, its lowest level since early August. While the token has struggled with double-digit declines this year, fresh on-chain activity suggests a recovery may be brewing.<\/p>\n\n\n\n According to Shibburn data<\/strong>, the Shiba Inu burn rate surged 7,200% in a single day<\/strong>, with 7.06 million SHIB destroyed<\/strong>. Most of this came from one user who sent 6 million SHIB to a burn address<\/strong> across three transactions.<\/p>\n\n\n\n So far, more than 410 billion SHIB have been incinerated<\/strong>, reducing the circulating supply to about 584 billion<\/strong>.<\/p>\n\n\n\n At the same time, whale wallets have steadily increased their SHIB holdings<\/strong>, a sign of confidence in a future rebound. Large investors now hold 89 billion SHIB<\/strong>, up sharply from 28 billion earlier this month<\/strong>.<\/p>\n\n\n\n \u201cSmart money\u201d investors known for profitable trades have also grown their exposure by 105% in the last 30 days<\/strong>, pushing their holdings to 12.46 billion coins<\/strong>.<\/p>\n\n\n\n This accumulation is reflected in exchange balances: the total SHIB held on exchanges has dropped to 283 trillion<\/strong>, down from 297 trillion in July<\/strong>. Lower exchange reserves typically suggest reduced selling pressure.<\/p>\n\n\n\n On the daily chart, SHIB has been trading sideways in a symmetrical triangle pattern<\/strong>, with its two trendlines set to converge. Recently, the coin dipped below the lower boundary during the broader crypto market crash a bearish move that may prove to be a false breakout<\/strong>.<\/p>\n\n\n\n Meanwhile, momentum indicators are at extreme lows. Both the Relative Strength Index (RSI)<\/strong> and Chande Momentum Oscillator<\/strong> are at their weakest levels since June. The last time this happened, SHIB staged a double-digit rally<\/strong>.<\/p>\n\n\n\n If history repeats, SHIB could rebound in the coming days, with a potential move back toward the $0.00001477 resistance<\/strong>, last seen on September 14.<\/p>\n\n\n\n Shiba Inu is hovering near a critical support level, but rising burns, strong whale accumulation, and shrinking exchange reserves are all signs of renewed optimism. If technical signals play out, SHIB could be on the verge of another rally.<\/p>\n","protected":false},"excerpt":{"rendered":" Shiba Inu (SHIB) has pulled back to a crucial support level, but several key fundamentals suggest the meme token could be gearing up for a rebound. A soaring burn rate, whale accumulation, and falling exchange reserves are all pointing to renewed bullish momentum. Shiba Inu price tests key level On Friday, September 26, SHIB was…<\/p>\n","protected":false},"author":3,"featured_media":11671,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[63,70],"tags":[65,281,804],"class_list":["post-11670","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-finance","tag-crypto","tag-price-analysis","tag-shiba-inu"],"yoast_head":"\nBurn rate surges, whales buy more<\/h3>\n\n\n\n
Technical outlook: Signs of a bounce<\/h3>\n\n\n\n
Bottom line<\/h3>\n\n\n\n