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Shiba Inu (SHIB) is once again grabbing headlines after a prominent crypto analyst predicted an explosive 17x price rally. The bullish forecast, coupled with a staggering 1800% surge in SHIB’s burn rate intraday, has ignited fresh optimism among traders and investors worldwide.
Crypto market analyst “CryptoELITES” shared the bold projection on X (formerly Twitter) this Saturday, claiming that SHIB is sitting in a “strong buy zone” and primed for a massive rally. “Why not a 17x for Shiba Inu price?” the analyst questioned, pointing to key indicators signaling a looming breakout.
Currently trading at around $0.00001462, SHIB has gained roughly 5% intraday and 19% over the past week. Charts reveal a bullish divergence on higher timeframes, suggesting that SHIB may have already found its bottom, setting the stage for a potential 100% move towards $0.00003 in the near term — with longer-term targets stretching up to $0.0002.
Adding to the bullish momentum, Shiba Inu’s burn rate has skyrocketed by over 1800% in the past 24 hours. According to Shibburn data, more than 15 million SHIB tokens were destroyed intraday, drastically cutting down the supply to approximately 589.25 trillion tokens. The deflationary impact of the token burn mechanism, a core driver of supply and demand economics, is further fueling investor sentiment.
Market data also shows rising enthusiasm in SHIB derivatives trading. CoinGlass reported a 7% spike in SHIB futures open interest (OI), now standing at $202.57 million, while the derivatives volume surged 37% to $220.95 million — a clear sign of growing trader participation.
Also Read: Shiba Inu (SHIB) at $1 Without a $600T Market Cap? Here’s the Bold Plan
Meanwhile, SHIB continues to outperform its rival Dogecoin (DOGE), which managed a modest 3% daily gain. As Bitcoin (BTC) edges back toward $95,000, analysts suggest a rotation into memecoins like SHIB could soon accelerate, amplifying the rally.
With bullish technicals, surging burns, and strengthening market interest, Shiba Inu seems well-positioned for a significant breakout, leaving investors eagerly watching for the next major move.
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 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.
