Altcoins News
By Dan Saada
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Shiba Inu (SHIB), one of the most discussed altcoins in the crypto space, is drawing attention once again.
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The crypto market witnessed a major uptick in Shiba Inu activity, largely fueled by a steep rise in whale inflows.
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This surge could be interpreted as a sign of institutional interest or high-net-worth traders positioning for a directional move.
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Token Burns Rise, Deflation Narrative Strengthens
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Complementing the whale inflows, SHIB also recorded a considerable spike in token burn activity. Over 1.19 billion tokens were burned in just one week—a 1,499% increase.
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The burn trend has added strength to the narrative that Shiba Inu is becoming more deflationary.
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Valuation Concerns: NVT Ratio Hits Alarming Levels
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Despite the optimistic on-chain developments, there are signs that caution may be warranted.
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When NVT spikes, it typically indicates overvaluation, implying that market enthusiasm may not be backed by real transactional use.
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Adding another layer of concern is the decline in network growth. New address creation has dropped significantly, with only 476 new wallets recorded—a relatively low figure…
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In a healthy rally, especially one that aims for sustainability, strong network growth is essential.
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Technical Setup: Falling Wedge Hints at 27% Upside
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On the technical front, Shiba Inu is trading within a falling wedge pattern—a structure often considered a bullish reversal signal.
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If the pattern plays out as expected, traders could see a breakout that pushes the price toward the $0.00001448 level, representing a potential 27% upside from current levels.
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The price buildup beneath the resistance trendline shows that accumulation is taking place. However, any breakout attempt will likely need support from improved fundamentals such…
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