Shiba Inu Breakout Could Send Price Up 81% – Burn Rate Jump By 2227%

The post Shiba Inu Breakout Could Send Price Up 81% – Burn Rate Jump By 2227% appeared first on Coinpedia Fintech News

Shiba Inu (SHIB), which started as a meme coin, has now become one of the most popular cryptocurrencies among investors. Right now, SHIB is trading at $0.0000127, holding strong above $0.0000125. Despite facing some price drops analysts predict a massive breakout could push its price up by 81% due to rising whale activity and an increasing burn rate. 

Shiba Inu Ready for an 81% Surge 

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.

Aligning with the bullish outlook, crypto analyst CryptoELITES anticipates a short-term price surge for SHIB and predicts a massive 17x rally.

Key Levels to Watch 

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.

Whales and Burn Rate Show Positive Signs

Big players are showing interest in SHIB again, with whale activity spiking in recent days. A massive 7.49 trillion SHIB was moved in large transactions, marking 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.