Key Insights:
- Shiba Inu’s potential 138% rally is driven by technical analysis and bullish momentum indicators.
- Coinbase’s SHIB futures listing increases the possibility of a Shiba Inu ETF launch under new SEC regulations.
- The surge in Shiba Inu’s burn rate adds to the positive sentiment around the token’s future performance.
Crypto expert Javon Marks has forecasted a 138% surge for Shiba Inu (SHIB) in the current market cycle, following key developments that could impact the token’s price. SHIB is showing technical patterns that suggest a significant upward move, potentially pushing it toward $0.000032. This outlook comes as the token consolidates within a symmetrical triangle formation on the two-day chart, a pattern often seen before major breakouts.
The technical analysis reveals that Shiba Inu’s price action has been tightening, with lower highs and higher lows narrowing the trading range. As the price nears the breakout point, the momentum is building for an upward push. Currently, SHIB is trading close to $0.00001341, with a breakout above the $0.00001412 level and strong volume potentially triggering algorithmic buying.
Bullish Momentum Supported by Key Indicators
Moreover, several momentum indicators suggest that the Shiba Inu rally could be gaining traction. The token has recently closed above its pivot point ($0.00001333) and the 200-day exponential moving average ($0.0000139), signaling potential strength. The MACD histogram has turned positive, and the relative strength index (RSI) remains comfortably below overbought levels, adding to the bullish case for SHIB.
Another factor contributing to the optimistic outlook for Shiba Inu is its recent inclusion in futures trading on Coinbase. The exchange now offers SHIB futures under the “1k Shib Index,” which could be a step toward launching a spot ETF. Recent regulatory changes from the SEC allow for crypto assets with regulated futures to undergo accelerated review for ETF listings, bringing SHIB closer to the possibility of being part of a multi-asset crypto ETF.
Burn Activity Adds to Positive Sentiment
In addition to technical indicators, Shiba Inu’s community-driven burn activity is also contributing to the token’s positive sentiment. Over the last 24 hours, the burn rate surged by 438%, reducing the token’s overall supply. While the total number of tokens burned remains modest, the increase in burn activity has had a notable impact on investor sentiment, adding to the rally’s potential.
Shiba Inu’s growing presence in the crypto market, now available on more than 110 exchanges with over 200 trading pairs, further strengthens its case for an ETF. As regulatory developments continue to unfold, the future of SHIB looks increasingly promising, with the potential for a substantial rally in the coming months.
