SHIB just surged 5% following a massive token burn, sparking fresh speculation around a potential supply shock.
Could this set the stage for a bullish Shiba Inu price prediction as momentum builds?
The second-largest meme coin has now climbed 16% in the past week, riding a broader market rebound that kicked off after a stronger-than-expected U.S. jobs report.
With sentiment turning and supply shrinking, SHIB may be gearing up for something bigger.
Data from Shibburn, a service that tracks how many SHIB are burned periodically, reported a 676% spike consisting of 61.8 million tokens burned in the past 24 hours alone.
Shiba Inu Price Prediction: RSI Sends Early Buy Signal After Winning Streak
The daily chart shows SHIB approaching the upper boundary of its descending price channel, a key level that could define its next move.
If the price breaks above $0.0000090, momentum may shift quickly, increasing the chances of a run toward $0.00001050.
This zone will likely test whether bulls have the conviction to reverse the current trend.
Adding strength to the setup, the Relative Strength Index (RSI) has moved above its 14-day moving average, often seen as an early sign of a potential breakout.
On the flip side, if SHIB fails to break through this resistance and gets rejected, a retest of recent lows becomes more likely in the near term.
While SHIB gears up for a decisive move, early-stage investors are already rotating into fresh opportunities.
One of the hottest presales gaining momentum right now is Pepenode ($PEPENODE), a virtual mining project that turns crypto mining into a reward-driven game. No hardware needed.
Players launch and upgrade digital rigs to earn rewards, while every upgrade burns a portion of $PEPENODE forever.
Pepenode ($PEPENODE) Introduces a Fun Way to Mine Meme Coins
Pepenode ($PEPENODE) eliminates the need to make expensive hardware investments to mine meme coins and gamifies the whole process.
Players kick things off by building a virtual server and launching as many mining rigs as they want, turning their setup into a competitive income engine.
The goal is simple: climb the leaderboard and earn surprise airdrops of top meme coins like Fartcoin ($FARTCOIN) and Bonk ($BONK) along the way.
To boost their earning power, miners can reinvest using $PEPENODE to upgrade their rigs and scale their output.
Up to 70% of the tokens used for upgrades are burned permanently, cutting supply and steadily increasing scarcity.
With a staking APY of 584% and interest in the game growing fast, demand for $PEPENODE is on track to surge alongside its player base.
To buy $PEPENODE before the next price increase, simply head to the Pepenode official website and link up a compatible wallet, such as Best Wallet.
You can either swap USDT or ETH for this token or use a bank card to invest in seconds.
Visit the Official Pepenode Website Here
The post Shiba Inu Price Prediction: 61 Million SHIB Burned Overnight – Major Supply Shock Coming? appeared first on Cryptonews.
Credit: Source link
