Shiba Inu Primed for 190% Rally as Token Burn Rate Explodes 234,584%

Shiba Inu’s price charts flash a bullish technical pattern—just as the meme coin’s burn mechanism goes into hyperdrive. A 234,584% spike in SHIB tokens sent to dead wallets suggests supply shock could fuel the next leg up.

Pattern recognition: The 1-2-3 breakout setup on SHIB’s weekly chart projects a 190% surge if resistance at $0.000045 breaks. That’d put the dog-themed token within barking distance of its 2021 all-time high.

Burn baby burn: The sudden incineration of 9.35 billion SHIB (worth ~$210,000) in 24 hours shows developers finally learned Economics 101—scarcity creates value. Too bad Wall Street still thinks ’tokenomics’ is a typo.

Make or break: Bulls need to hold the $0.000027 support level. Because nothing says ’serious investment’ like a cryptocurrency originally created as a joke.

Shiba Inu price analysis

The weekly chart shows that the shiba inu price has formed a popular harmonic chart pattern. The XA section happened between its highest point in 2024 and its lowest point in August. 

It then formed the AB section through December, and the BC section through April this year. It has now embarked on the CD section that may push it back to its 2024 high of $0.0000455, which is about 190% above the current level. 

Notably, the AC section of this pattern is at $0.000033, which is its double bottom. Therefore, if it surges above the neckline at $0.000033, the path to its 2024 high will be confirmed.