Shiba Inu Price Prediction: SHIB Burn Rate Surges; Will Price Rally to $0.000028?

Recently, Shiba Inu burn rate increased significantly, sparking discussions about whether this burn momentum can propel it closer to $0.000028.

After slipping off $0.000016 in late August, SHIB oscillated between $0.0000141 and $0.0000140 as sellers mounted significant pressure. However, SHIB showed signs of recovery over the past week, surging nearly 10% to a weekly high of $0.000015.

SHIB trades at $0.0000144, down 0.64% in 24 hours. While the burn rate typically signals positive sentiment, it remains to be seen if it will lead to substantial gains. Nevertheless, some analysts remain bullish on SHIB, expecting a 10,000% rally.

This analysis will provide insights into Shiba Inu's potential trajectory in the coming days.

Shiba Inu Burna Rate Surge: A Key Factor Boosting SHIB's Price

The Shiba Inu burn rate has spiked by 5,975% in the past few days. According to data from Shibburn, 1,729,224 SHIB tokens were removed from circulation after a day of zero token burn.

HOURLY SHIB UPDATE$SHIB Price: $0.0000147 (1hr 0.22% | 24hr 3.24% )
Market Cap: $8,659,748,366 (3.24% )
Total Supply: 589,271,189,283,115

TOKENS BURNT
Past 24Hrs: 1,729,224 (5975.13% )
Past 7 Days: 38,884,384 (17.17% )

- Shibburn (@shibburn) September 22, 2024

Burning SHIB reduces the total supply, potentially increasing scarcity and helping the price rise. As more tokens are removed from circulation, SHIB is expected to be near $0.000028 based on the reduced supply.

This spike in burn activity coincides with Shiba Inu's recent increase from $0.00001414 to $0.0000145.

Technical Indicators Signal Bullish Interest

Although Shiba Inu has shed some of its weekend gains, technical indicators signal a sustained trend.

The SuperTrend indicator, widely used to determine the trend direction, isflashing a buy signal for Shiba Inu (SHIB). This means the price could move higher in the near term. Traders often consider this an opportunity to enter the market, expecting potential upward momentum.

Also, the Price Volume Trend (PVT) indicator for SHIB is at 28.99 trillion. A higher PVT value indicates more buyers are stepping in, showing strong demand for SHIB.

These indicators suggest that the upward trend could continue, signaling potential price gains for SHIB. However, to confirm this bullish sentiment, SHIB must break the primary resistance level at $0.00001502.

There's a critical support region around $0.00001400. This level could prevent any price decline.

Shiba Inu Triangular Formation Signals Potential Bull Run

Some analysts have identified a key pattern on Shiba Inu's price chart that could indicate a massive bull run. According to an X user named Pepa, SHIB has formed a triangular shape, a typical technical pattern that often signals significant price movements.

$SHIB ready to kill 2 more zeroooooos? https://t.co/Zu3iDJxqWH pic.twitter.com/XQxxCwuAkK

- pepa (@moonshilla) September 17, 2024

If SHIB breaks through this formation, it could trigger a significant rally, erasing two zeros from its current price. Based on this bullish projection, Pepa expects a 10,000% increase in SHIB's value.

However, to achieve this, SHIB's market cap would need to skyrocket to around $800 billion, which seems farfetched given its current valuation of $8.49 billion.

Additionally, crypto enthusiast Javon Marks pointed out that Shiba Inu is still about 470% away from reaching its bullish target of $0.000081. He noted that while this gap is significant, recent price revivals could serve as a catalyst for significant upside movement."

$SHIB (Shiba Inu)'s BREAKOUT HOLDS and its first larger target remains over 470% away at $0.000081!

This breakout can be the catalyst for significant upside movement towards the meeting of this target... https://t.co/A2190BhCdZ pic.twitter.com/9cEmSmkmaW

- JAVONMARKS (@JavonTM1) September 19, 2024

Another factor bolstering the bullish sentiment around SHIB is its growing popularity across social media platforms. According to LunarCrush, Shiba Inu's social engagement has hit its highest point since August 15.

Before this surge, SHIB had seen a prolonged decline in social engagement, which Santiment attributed to trader frustration and reduced interest.

However, Shiba Inu's trading volume has surged with increased discussions and positive sentiment surrounding SHIB. With this growing social momentum and potential technical breakouts, SHIB could be primed for further price action.

Shiba Inu Alternative: Is Memebet the Next Meme Coin Sensation?

New meme coin projects like Memebet (MEMEBET) have emerged as the market anticipates the altcoin season. Memebet appears well positioned for 10x gains in the next bull cycle.

Memebet Token ($MEMEBET) has gained attention as a potential alternative to SHIB. It has raised over $250K in its presale, demonstrating significant early investor interest.

With its unique approach of combining meme coins and the growing online casino market, Memebet offers a compelling opportunity for crypto investors.

Features of Memebet Token

Memebet Token will power the upcoming Memebet Casino, adding utility to the coin. This online platform lets users wager popular meme coins like $PEPE, $SHIB, and $BONK on various games. The casino also integrates sports betting, enabling users to bet on events like NBA and EPL matches.

In addition to its casino, Memebet offers play-to-earn airdrops, exclusive bonuses, and rewards, making it a dynamic project for long-term growth.The token's modest supply of two billion enhances its value potential as demand increases with presale success.

Crypto whales have also shown interest, with early investors buying large amounts of $MEMEBET, indicating confidence in the project's future growth.

The iGaming market, which includes online gaming and gambling, was valued at $70 billion in 2023. This is expected to grow significantly by 2030.

Memebet aims to leverage this growth by introducing its online casino, making it a potential top contender in the meme coin market.

$MEMEBET currently trades at $0.0253, and the price will increase in only a few hours. Visit the official presale website to secure your $MEMEBET tokens before the price increases.

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