Shiba Inu (CRYPTO: SHIB) is seeing a massive spike in its burn rate, fueling speculation of a bullish reversal as key technical and on-chain metrics strengthen.
| Cryptocurrency | Price | Market Cap | 24-Hour Trend | 7-Day Trend |
| Shiba Inu (CRYPTO: SHIB) | $0.00001246 | $7.3 billion | +2% | -7.3% |
| Dogecoin (CRYPTO: DOGE) | $0.1694 | $25.1 billion | -0.07% | -16.5% |
| Pepe (CRYPTO: PEPE) | $0.056973 | $2.9 billion | -0.9% | -1.5% |
Trader Notes: Rose Premium Signals notes that SHIB is testing the upper resistance of a falling wedge on the 4-hour chart. A breakout above the 50-day moving average is needed to confirm an uptrend, with potential targets at $0.00001305, $0.00001375, $0.00001485, and $0.00001565 if it happens.
Full story available on Benzinga.com