Shiba Inu (SHIB), a popular meme coin, is gaining attention as it breaks out of a long-term downtrend. With a massive burn rate increase and strong bullish signals, traders are anticipating significant growth.
Shiba Inu Breaks Key Level
According to World of Charts, Shiba Inu (SHIB) has successfully broken out of a key descending channel, signaling a big move ahead. If momentum continues, SHIB could potentially double its value. The recent breakout above this pattern signals a shift in trend.
SHIB Burn Rate Skyrockets
Shiba Inu (SHIB) is showing strong bullish signs as its burn rate explodes by a staggering 57,091% in just one day! According to Shibburn’s latest data, over 1 billion SHIB tokens were permanently removed from circulation in the last 24 hours, fueling excitement among investors.
SHIB Price Outlook
Currently, SHIB is trading around $0.00001439, though it has dipped by 6.6%. However, the Relative Strength Index (RSI) has surged above 58.7, signaling growing bullish momentum.
If this bullish trend continues, analysts predict a breakout and the potential for a substantial SHIB rally in Q2 2025.
