- SHIB Burn Rate Surges Over 100% in One Week
- Whales Accumulate 224B SHIB Before Breakout
- Triangle Pattern Forms, $0.00001562 Target Eyed
After consolidation at the main support level, a new uptrend wave is expected.
Shiba Inu has been trading within a tight range as buyer activity slows, yet technical indicators suggest potential for a breakout. The price structure and increasing burn rate are adding weight to the bullish thesis for SHIB’s next move.
Shiba Inu Consolidates with Key Support Holding Steady
A TradingView analysis indicates that Shiba Inu is currently consolidating between $0.00001150 and $0.00001250. This zone has historically served as strong support for both traders and long-term holders. SHIB is trading near $0.00001191 at press time.
Technical indicators suggest a neutral to mildly bullish outlook. The Relative Strength Index (RSI) sits at 51.96, showing no signs of overbought or oversold pressure. Additionally, Bollinger Bands are narrowing, which often signals an upcoming breakout in either direction.
According to IntoTheBlock data, whale inflows surged from 96 billion SHIB on April 13 to 224 billion SHIB on April 14. This behavior from large holders indicates renewed interest and may point to accumulation ahead of a move higher. The support at $0.00001150 remains critical for maintaining the current structure.
Burn Rate Rises as Traders Watch Key Breakout Levels
Shibburn data shows that more than 135 million SHIB tokens were burned over the past seven days. The burn rate has surged by over 100%, removing tokens from the circulating supply and slightly increasing scarcity. As of now, the total supply sits around 584 trillion tokens.
Analyst CryptoElites noted that SHIB is forming a symmetrical triangle pattern. A confirmed breakout above $0.00001250 could trigger a rally toward $0.00001562, the neckline of a small double-bottom pattern. If momentum continues, the next major target is $0.000023.
Finder’s recent expert survey suggests mixed sentiment. While most believe SHIB may never flip DOGE, price predictions for 2025 remain optimistic. Some analysts forecast potential highs near $0.00006, depending on market strength and token utility expansion
