Shiba Inu's Performance Climbs - Accelerated Burn Rate Signals 70% Upsurge Possibility
Shiba Inu (SHIB) has been making waves in the cryptocurrency market, with recent developments suggesting a potential bull run in the near future. Let's take a closer look at the factors contributing to this optimistic outlook.
A falling wedge, a common bullish reversal pattern, has formed in SHIB's chart, with the RSI cooling down to 36.73, creating room for upward movement. The cup-and-handle pattern, another bullish continuation indicator, is also present, with the handle compressing near a strong support level at $0.0000100.
The total SHIB burn count has reached an impressive 410.75 trillion tokens, a significant reduction in the circulating supply. This surge in burn rate, over 2,200% in the past 24 hours, has removed more than 3 million tokens from circulation. The latest burn rate shows a dramatic surge, which could soon reflect on SHIB's chart.
The MACD histogram is approaching a bullish crossover for SHIB, hinting at a potential shift in momentum. The Balance of Power (BoP) for SHIB also suggests fading seller dominance, further supporting the bullish outlook.
Technical analyst Crypto Patel has listed Shiba Inu alongside PENDLE and PYTH as top contenders for the next rally, with predictions pointing towards Ethereum-based projects. The Chaikin Money Flow (CMF) for SHIB is currently at zero, indicating neutral capital inflow, but this could change as the bullish momentum builds.
Predictions for SHIB's price targets range from around $0.0000134 to $0.00008 by 2025, with more optimistic long-term targets reaching as high as $0.006 or beyond by 2030-2040. Changelly forecasts SHIB could rise to approximately $0.0000134 by August 2, 2025, while CryptoNewZ predicts a potential price of $0.0000326 by the end of 2025, and possibly up to $0.001 by 2035. Coincodex also estimates a potential high of $0.00008471 in 2025.
However, it's important to note that the high volatility and speculative nature of SHIB means that these predictions are not set in stone. Key drivers including the expanding Shiba Inu ecosystem, community strength, and overall crypto market trends will play a significant role in SHIB's future price action.
In summary, current technical and fundamental indicators combined with expert forecasts project near-term SHIB price targets between roughly $0.000013 and $0.00008 by late 2025, with potential long-term growth up to $0.006 or more over the next decade and beyond, assuming positive developments continue. A clean break above the $0.0000131 to $0.0000140 resistance zone could open the door to bigger moves for SHIB, with potential targets at $0.0000175 and $0.0000200. Reaching $0.0000220 would complete the cup-and-handle breakout for SHIB, marking a 70% rally from current prices.
- The falling wedge in Shiba Inu's chart and the cooling down RSI indicate potential room for upward cryptocurrency investing movement, hinting at a upcoming bull run.
- Crypto Patel, a technical analyst, has listed Shiba Inu as one of the top contenders for the next rally alongside PENDLE and PYTH, specifically focusing on Ethereum-based projects.
- With the total SHIB burn count reaching an impressive 410.75 trillion tokens and a surge in burn rate, the technology behind this cryptocurrency shows potential for reducing the circulating supply, which could impact its future price action.
