Shiba Inu Price Set for 30% Surge? On-Chain and Social Signals Say Yes

Shiba Inu's price is showing signs of a potential 30% increase. While the amount of SHIB tokens burned in the last 24 hours decreased significantly, the overall trend of reducing the token supply continues. The number of SHIB tokens held on exchanges has dropped to a one-year low, potentially reducing selling pressure. Social media activity surrounding Shiba Inu has surged by 126%, indicating increased interest and potential buying activity. A technical chart pattern called a golden crossover, where the 20-day EMA moves above the 50-day EMA, is forming, which historically has preceded price increases.