SHIB Soars 250%—How Token Burn and Bullish Signals Play In

SHIB has surged 250% since December, driven by key technical patterns. Over 2 billion SHIB tokens burned in a single day, boosting scarcity. Bullish momentum builds as SHIB targets the next resistance level. Shiba Inu (SHIB) has surged 250% since its December start, showing remarkable resilience, outperforming many other cryptocurrencies. Experts attribute this rise to technical chart patterns, community-driven initiatives, and token burns for the popular memecoin. Shiba Inu’s Explosive Growth After seven months of sideways price action, SHIB’s dramatic surge has captured global attention. A 1-day technical analysis of SHIB reveals an inverse Head and Shoulders (H&S) pattern, leading to a significant price breakout. Source: CPR SHIB bounced off the EMA20 level and hit its initial H&S target, paving the way for further growth. With bullish momentum building, market observers predict the next target at the second C&H level. Beyond technical factors, the Shiba Inu ecosystem’s success also hinges on the power of community initiatives and tokenomics strategies. Shiba Inu’s Community-Driven Momentum A major factor contributing to this rally… The post SHIB Soars 250%—How Token Burn and Bullish Signals Play In appeared first on Coin Edition .

Source: Coin Edition