Shiba Inu (SHIB) started as a joke, but it has now become one of the most talked-about cryptocurrencies in the world. What was once a meme coin is now attracting serious investors, and the latest market trends suggest something big could be on the horizon.
Right now, SHIB is trading at 0.0000127, holding steady above 0.0000125. Despite some recent price drops, analysts believe SHIB could be gearing up for a massive breakout – potentially soaring by 81%. What’s fueling this excitement? A surge in whale activity and a skyrocketing burn rate, both of which could send prices climbing.
So, is SHIB about to explode? Let’s take a closer look at the key signals that have traders buzzing.
Looking at SHIB’s 1-day chart, it is forming a falling wedge pattern, which is generally seen as a bullish reversal signal. Since December 2024, SHIB has been trading within this downward-sloping wedge, consistently making lower highs and lower lows.
However, the price is now testing a breakout level around $0.0000129, suggesting a potential trend reversal. If SHIB successfully breaks out of this pattern, it could trigger a massive rally, targeting an 81.63% increase, bringing the price up to around $0.000023.
Many crypto experts are confident about SHIB’s future. Analyst CryptoELITES expects a short-term price surge and even predicts a massive 17x rally in the long run.
SHIB has been trading in a tight range between $0.0000125 and $0.00001365. The real battle lies at the $0.000014 resistance, where 236 billion SHIB tokens are waiting.
If bulls manage to break past this level, the next major hurdle is between $0.000014 and $0.000019, where a staggering 548 trillion SHIB tokens have been accumulated.
On the flip side, if SHIB fails to hold $0.0000125, a drop to $0.0000115 is likely. So far, the token has struggled to maintain its bullish momentum, facing repeated rejections at the $0.000014 level.
SHIB has recently seen a surge in interest from large investors, also known as whales. Over the past few days, whale activity has spiked, with 7.49 trillion SHIB moved in large transactions. This is the highest volume seen in two months.
At the same time, the SHIB burn rate has jumped by 2227% in the last 24 hours, removing over $18.6 million worth of tokens from circulation. The total SHIB burned has now reached 410.7 trillion, reducing the available supply to around 589 trillion tokens. This could drive prices higher as supply tightens.
SHIB has defied expectations before, and with bullish signals stacking up, it might just do it again. The charts are watching, and so is the market.
Some analysts forecast major gains, with potential for a 17x rally if bullish momentum continues.
The SHIB burn rate spiked 2227%, removing tokens to reduce supply, which may boost prices.
If the impact of the last halving is anything to go by, Shiba (SHIB) could easily rally to over $0.00006392 in 2025.
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