Shiba Inu’s Rally Cools as Burn Rate Dries Up and Bets Fade

Shiba Inu’s meme-fueled surge hits a wall—burn transactions slump, speculative bets retreat, and the ’dogecoin killer’ narrative starts looking like just another overhyped altcoin play. Remember when ’number go up’ was enough? The market’s getting picky.

Key factors killing the vibe: Fewer tokens being torched (cutting supply inflation), fading leverage bets, and traders shifting to newer shiny objects. Classic crypto ADHD—no loyalty, just chasing the next dopamine hit.

Bottom line: Even meme coins need fundamentals eventually. Or at least a fresh Elon tweet.

Shiba Inu price technical analysis

The ongoing Shiba Inu Coin consolidation could be calm before the storm and a surge. The weekly chart shows that the SHIB price has formed a double-bottom pattern at $0.00001076.

A double-bottom often leads to a strong bullish breakout, potentially to the neckline, which, in this case, is at the November high of $0.00003390, up by 133% from the current level. 

Shiba Inu is also forming the popular harmonic pattern known as XABCD. It has already completed the XA, AB, and BC phases and is now in the early stages of the last CD phase.

If this happens, the SHIB price will likely bounce back and hit the 2024 high of $0.00004618, up by 227% from the current level.