- SHIB shows rising token burns and on-chain activity, signaling growing investor interest.
- Technical indicators, including RSI and MACD, suggest a potential breakout soon.
- Upcoming ETFs and layer-two upgrades may drive long-term momentum for SHIB.
Shiba Inu surprised the market with a 5% jump in just 24 hours, climbing to $0.0000090. Traders are watching closely as crypto markets show signs of recovery ahead of tomorrow’s FOMC meeting. Analysts widely expect the Federal Reserve to cut rates, boosting optimism after several tough months. On-chain activity for SHIB has surged, with a 248% increase in token burns over the last 24 hours. This combination of market conditions and rising activity suggests SHIB could be ready for a major move.
Bullish Indicators Suggest Recovery
The Shibburn X account reported that Shiba Inu burned 75.7 million tokens over the past week. In the last 24 hours alone, 14.3 million tokens were removed from circulation. This spike signals growing activity as investors anticipate the Fed’s decision. On the technical side, SHIB shows signs of bouncing back from a heavily oversold position. The relative strength index is about to climb above 50, ending months below this key level. Similarly, the MACD is trending upward and could turn positive within days. Traders watching these signals may see a breakout forming soon.
Growing activity on the blockchain supports this bullish setup. Increased token burns reduce supply pressure, while more transactions indicate higher investor engagement. Market participants may view this as an early sign of renewed interest. Combined with a possible rate cut, these factors could trigger a sharp price increase in the near term. Even modest gains could quickly snowball if momentum builds.
SHIB’s Longer-Term Potential
Despite short-term optimism, Shiba Inu faces challenges over the longer term. The token has dropped 71.5% over the past year, reflecting declining market interest. Layer-two network Shibarium launched in 2023 to strengthen utility, but transaction activity remains low. ShibariumScan.io reports only 2,635 daily transactions, suggesting adoption still lags behind expectations.
However, upcoming developments could change the narrative. Plans for a multi-crypto ETF from T. Rowe may include SHIB as an eligible token. This could attract institutional attention, depending on how much allocation SHIB receives. Layer-two upgrades planned for next year may make Shibarium more attractive for developers and users. If adoption rises, SHIB could see more sustained buying pressure, supporting a longer-term rally.
Investors should weigh both the risks and opportunities. The combination of bullish chart patterns, rising token burns, and potential institutional interest creates a unique setup. Market skepticism remains, but SHIB shows multiple signs of building momentum. Traders who watch key technical levels and broader market events could benefit from early positioning.
Shiba Inu has increased on-chain activity and token burns, signaling renewed interest. Technical indicators show potential for a breakout soon. Upcoming ETFs and layer-two upgrades may provide additional catalysts. Despite skepticism, SHIB’s current setups suggest the possibility of a significant rally in the near future.
