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- SHIB burn rate rose 6,260% in 24 hours, shrinking supply.
- Technical patterns signal a potential breakout above $0.0000130.
- Analysts foresee a possible 17x rally, targeting $0.0002.
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Shiba Inu (SHIB), the canine-themed meme coin, is showing signs of a potential price explosion after a massive surge in its burn rate. Despite a 3% weekly dip, analysts are optimistic about a possible 17x upside for SHIB, fueled by supply reductions and technical indicators signaling an imminent breakout.
Record-Breaking Burn Rate Sparks Optimism
Data from Shibburn reveals that more than 4.55 million SHIB tokens were burned in the last 24 hours, marking a 6,260% increase in the burn rate. Since its launch, over 410.75 trillion SHIB have been permanently destroyed, shrinking the circulating supply to approximately 589.24 trillion tokens.
Historically, spikes in SHIB’s burn rate have led to upward price pressure. With supply decreasing, any steady or rising demand could push the token’s value higher, supporting bullish sentiment among traders and investors.
Technical Indicators Suggest Imminent Breakout
On the daily chart, SHIB has been consolidating within a symmetrical triangle since mid-July, a classic pattern that often precedes strong price movements. Analysts note that a decisive close above the upper resistance line near $0.0000130 could open the door to upside targets at $0.0000150 and even $0.0000200.
SHIBA Target: 17x#SHIB $SHIB #Shib $Shib pic.twitter.com/ER7HT6ldXB
— CryptoELlTES (@CryptooELITES) September 3, 2025
Short-term charts reinforce this view. On the 4-hour chart, Bollinger Bands are tightening, signaling potential volatility. The RSI sits in neutral territory, leaving room for either bullish or bearish swings, while the MACD shows narrowing histogram bars near the baseline, hinting at a momentum shift. Traders are closely watching key support levels at $0.0000120 and $0.0000115.
Market Context and Analyst Forecasts
Currently, SHIB’s market capitalization stands at $7.2 billion, with a 24-hour trading volume of $152 million, down 15% from previous levels. Despite muted trading activity, bullish analysts like CryptoELITES forecast the meme coin could enter a parabolic rally, potentially climbing toward the $0.0002 region, reminiscent of the 2021 SHIB frenzy.
Also Read: Shiba Inu (SHIB) Partners With Chainlink for First-Ever Cross-Chain Lending – Earn 10.9% APY Now
As technical patterns align with fundamental supply reductions, traders and investors are keeping a close eye on SHIB. While short-term volatility is expected, the combination of shrinking supply and potential bullish momentum could create a strong upside opportunity for this top meme coin.
Shiba Inu’s recent burn rate surge and tightening technical indicators suggest a high-probability breakout. Traders should monitor resistance at $0.0000130 and support at $0.0000120 for potential trading opportunities.
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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
I’m your translator between the financial Old World and the new frontier of crypto. After a career demystifying economics and markets, I enjoy elucidating crypto – from investment risks to earth-shaking potential. Let’s explore!
