Shiba Inu Set to Surge – Token Burn Jumps 1300% and Analysts Predict a Major Rally

The meme coin Shiba Inu (SHIB) is once again in the spotlight. With its price climbing over 11% in the past week, well-known analyst ALLINCRYPTO has predicted a potential explosive breakout for SHIB. 💥 The reason? A classic falling wedge pattern, which often signals a reversal from bearish to bullish momentum. Add to that a 1300% spike in token burn over the last 24 hours, and the bullish case becomes even stronger.

📈 Bullish Signals: SHIB Forms a Strong Chart Pattern On April 23, ALLINCRYPTO posted his analysis on X (formerly Twitter), highlighting the falling wedge pattern, which is widely seen as a bullish formation. 🔹 The pattern features two descending trend lines – the upper indicating resistance, and the lower support.

🔹 From December to April, SHIB's price declined, but during this phase, the meme coin formed this bullish wedge pattern.

🔹 According to the analyst, this setup suggests an imminent trend reversal and price breakout, especially as the broader crypto market is showing signs of strength.

🔥 SHIB Burn Skyrockets, Boosting Optimism While technical indicators look promising, on-chain metrics add fuel to the fire. According to data from Shibburn, more than 27.8 million SHIB tokens were burned in the past 24 hours – a staggering 1361% increase in daily burn activity. ➡️ Burning reduces the circulating supply and increases scarcity – the fewer tokens available, the higher the potential for price growth.

💹 Bulls Take Over SHIB – More Growth Ahead? Market sentiment indicators show that bulls currently dominate SHIB, based on data from the past three months. 🔸 Their prediction suggests SHIB could climb to $0.0000141 by the end of April.

🔸 Currently trading around $0.00001320, the token still has room to run.

🌐 Crypto Market Momentum Builds Shiba Inu is riding the broader bullish wave across crypto markets – Bitcoin recently touched $94,000, and market sentiment is increasingly positive. With a strong brand and active community, SHIB remains one of the most watched meme coins.

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