$SHIB Shiba Inu (SHIB) reached its lowest level since August 2 at $0.0000118, raising various concerns. However, on-chain data shows that key signals indicate a potential rebound.

The burn rate of Shiba Inu has surged by 7200%, indicating a significant reduction in circulating supply. For a token with a massive supply like SHIB, such a spike in burning often acts as a bullish catalyst, potentially driving the price up if demand remains stable.

Whale activity in the Shiba Inu ecosystem has also surged dramatically, with holdings jumping from 28 billion to 89 billion SHIB.

This massive accumulation signals that high-level investors may be positioning for a potential market move, highlighting bullish sentiment, as whales often lead trends in the crypto market.

In addition to bullish forecasts, SHIB exchange reserves are steadily decreasing. As tokens leave centralized platforms, liquidity tightens, creating a potential shortage that could amplify buying pressure and support stability.