Shiba Inu to the Moon! Discover the Secrets Behind Its Meteoric Rise 🚀

Ah, the elusive Shiba Inu price, galloping forth on this luminous Monday, July 21, like a spirited stallion, as Ethereum ascended to dazzling heights and the burn rate feverishly increased. What a colorful drama, indeed! 🎭

This Shiba Inu token, bless its heart, has defied gravity for seven days straight, reaching heights not seen since the memorable day of May 23 and up 55% from this year’s abysmal lows. One would think these tokens have learned how to levitate! 💸

What a delightful coincidence that the token’s exuberant rally aligns perfectly with Ethereum’s own jubilant feast, as it soared to $3,800—its apex since last December! A staggering 175% leap from the dreadful nadir of the year. ERC meme coins, from Shiba to Pepe, appear to be the eternal companions of an Ethereum uptrend, dancing merrily in the spotlight. 💃

The price of our furry friend also leaped with glee as the burn rate continued its impressive ascent, reducing the circulation of tokens. A commendable 11.30% increase in the last 24 hours brought the total burn to a staggering 1.195 million tokens, leaving a pitiful 584.5 million still prancing about. 🔥

Meanwhile, the feared whales—the titans of this cryptic sea—have been accumulating like they’re prepping for a feast. The holdings of the top 100 coins have risen to magnificent levels unseen in eons, scaling up to 112.17 billion—an impressive 2.8% increase in this month alone. They’ve pulled their holdings up from depths plummeted to 105 trillion. Such voracious appetites! 🐋

In contrast, exchange balances are in freefall—investors are evidently reluctant to part with their precious bounty. A decline to 275.4 trillion, a drop of nearly 1% in the past 30 days, has occurred. A sign of hoarding, or do they simply believe in the eternal rise? 📉

Shiba Inu price technical analysis

The daily chart has drawn a tale of resilience—a double-bottom pattern formed at an impressive low of $0.000010. Such precision! A double bottom has become a wandering bard, singing of bullish reversals, as it approaches the neckline of valor at $0.00001755. 🎯

Our valiant SHIB has danced elegantly above the 23.6% Fibonacci Retracement line, taking a lovely waltz over both 50-day and 200-day moving averages, as the gap between them dwindles. Could it be shaping up for a golden cross? Hope springs eternal! ✨

Moreover, the Supertrend indicator has cast its benevolent gaze downwards, whispering sweet nothings of bullish tendencies, while the top oscillators—Relative Strength Index and MACD—have all set their sights on the sky. 🌈

It appears our resilient token may continue this course, with bullish hopes keenly targeting the neckline at $0.00001755, followed soon by the almighty 50% retracement point at $0.00002180. But beware! A plummet below the sacred support at $0.00001453 would shatter this optimistic dream. 🥴

2025-07-21 17:31

Shiba Inu price technical analysis

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