Shiba Inu (SHIB) has once again captured the spotlight, as its price trends hint at a potential breakout. The meme coin’s bullish outlook is driven by an astounding 60,000% surge in its burn rate and promising chart formations. As of now, SHIB is trading around $0.000014, with analysts forecasting a major rally on the horizon.
Analyst Predicts Shiba Inu’s 2x Price Rally
Crypto market analyst ‘World Of Charts’ recently shared an optimistic outlook for Shiba Inu’s price. According to the analyst’s assessment on X, SHIB is currently trading within a descending channel. A decisive breakout above the upper trendline of this pattern could signal a strong bullish move, potentially doubling its price.
$Shib #Shib Breaking Descending Channel Range, Successful Breakout Could Lead Solid Rally In Coming Days, Expecting 2x After Successful Breakout. pic.twitter.com/V0YNZAI80m
— World Of Charts (@WorldOfCharts1) March 26, 2025
The descending channel is typically a bearish pattern, but a breakout from this formation often leads to rapid price surges. Given the recent burn activity and positive sentiment in the market, SHIB appears poised for a significant rally.
SHIB Burn Rate Skyrockets by 60,000%
Adding fuel to the bullish sentiment, Shiba Inu’s burn rate has experienced an explosive surge. Data from Shibburn reveals that the SHIB burn rate spiked by an astonishing 57,291.91% in just one day, with over 1 billion SHIB tokens permanently removed from circulation.
This dramatic reduction in supply aligns with basic economic principles—when supply decreases while demand remains steady or increases, prices tend to rise. As a result, investors are growing increasingly optimistic about SHIB’s price trajectory in the coming weeks.
Market Sentiment and Future Outlook
Despite the overwhelmingly bullish indicators, Shiba Inu’s price is down by 1% in the last 24 hours, currently trading at $0.00001446. However, it remains up nearly 13% over the past week. The coin’s intraday high reached $0.00001561, signaling strong buying interest.
Another well-known analyst, Javon Marks, has also weighed in on SHIB’s potential. He predicts a rally toward $0.000081, citing early signs of strength in the token’s price movement. However, Coinglass data suggests that SHIB’s futures open interest (OI) has dipped by 11% to $146.68 million, hinting at possible short-term volatility.
With an unprecedented burn rate, bullish chart patterns, and growing market confidence, Shiba Inu appears to be gearing up for a major breakout. While short-term fluctuations may persist, long-term projections remain optimistic. Investors and traders are closely watching SHIB, anticipating whether it can achieve the much-anticipated 2x gains.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: Shiba Inu (SHIB) Breaks Key Resistance – Can It Surge 45% to $0.000020?
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
