SHIB Poised for Potential Rally as On-Chain Signals and Token Burns Spark Optimism
Despite recent price dips, Shiba Inu (SHIB) is showing signs of a potential rally, fueled by a dramatic increase in token burns and bullish on-chain developments. Analysts suggest this could mirror SHIB’s historic 2021 surge.
Analyst Suggests Imminent Boost for Shiba Inu (SHIB)
Shiba Inu (SHIB) hovered around $0.00001239 on Tuesday after a 2.71% dip. Despite the subdued movement, market analysts are pointing to an emerging trend that could spark a rally similar to SHIB’s 2021 surge. Throughout April, SHIB saw muted price action but on-chain developments and bullish technical signals suggest a potential shift. Notably, SHIB’s token burn rate skyrocketed by 825% on Monday, with over 26 million tokens permanently removed from circulation.
Shiba Inu (SHIB) Price Prediction Amid Bitcoin Surge Hopes
Shiba Inu (SHIB) has recovered 30% from its 2025 low but faces significant on-chain hurdles. Currently trading at $0.00001290, SHIB has reclaimed its 50-day EMA but faces resistance from over 66,000 addresses holding more than 41 trillion SHIB between $0.000012 and $0.000013. A break below the current channel could see SHIB drop to $0.00000603, while a breakout above $0.00001260 may push it towards higher prices.
Shiba Inu Price Prediction Hints at Potential 17x Rally
The meme coin market showed strength as Bitcoin surged above $88,000. Despite this, Shiba Inu (SHIB) has yet to gain significant action, currently trading at $0.0000123 after a 2.8% decline. However, analysts believe SHIB is on the verge of a powerful breakout, forecasting a potential 14x to 17x surge from current price levels. Crypto analyst CryptoELITES highlighted a SHIB ’buy zone’ that could signal a key turning point.
SHIB Eyes Key Breakout Amid Bitcoin Surge
Shiba Inu (SHIB) has shown encouraging signs of recovery with an 8.6% growth over the past seven days. It is currently trading at $0.00001292 and aiming to break through the $0.000013 resistance level. Trading volume has jumped 14.44% to $173.83 million, while the burn rate has exploded by 3,227% with 888.4 million tokens destroyed. Whale activity has increased by 95.91%, indicating a potentially bullish trend for SHIB.
