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I've been noticing some interesting signals in Shiba Inu lately. SHIB has been forming a possible bottom since March, and on-chain data is showing money flowing in. The number of active wallets increased by 22,000 just in the past week, reaching 1.585 million addresses, and trading volume rose by 18%. That's not insignificant.
What stands out is that it's not just Shiba moving. PEPE, BONK, WIF, and FLOKI are also showing similar patterns, with social sentiment improving across the board. Active SHIB posts on social media hit a six-month high, suggesting that interest is returning to the meme coin sector as a whole.
In the charts, SHIB is testing an important resistance level from the past six months. If it manages to break through, we’ll likely see bigger movement across the entire meme coin group. The volume supports this, and the structure is set up for it. The burn rate also accelerated by 26% in 24 hours, with over 22 million tokens burned. If this breaks out, it could be the start of a meme coin season.