- SHIB burn rate surged 2,200%, reducing supply and increasing bullish sentiment.
- Cup-and-handle pattern hints at a possible 70% breakout from current price.
- SHIB could benefit from Ethereum ecosystem growth and renewed investor interest.
Shiba Inu celebrated its fifth anniversary, and something big may be brewing behind the scenes. In the past 24 hours, the SHIB burn rate exploded by over 2,200%, with more than 3 million tokens permanently removed from circulation. That single-day spike pushed the total burn count to an eye-popping 410.75 trillion tokens. With SHIB’s supply shrinking faster than ever and a bullish chart formation appearing, the stage may be set for a major price rally.
Burn Frenzy Fuels Bullish Hopes
At press time, SHIB trades at $0.00001204 , nearly 8% down over the last day. While the short-term price dip might worry some traders, those watching closely see signs of something much more promising. Burn spikes of this scale often come before big price movements. With fewer tokens in circulation and steady demand, prices usually push higher. The latest burn rate shows a dramatic surge in that direction, which could soon reflect on SHIB’s chart. Technically, SHIB appears to be forming a textbook cup-and-handle pattern.
This setup usually signals a bullish continuation. The cup portion peaked near $0.0000175, but after facing rejection, the price began consolidating into a falling wedge—forming the handle. Falling wedges typically act as bullish reversal zones . Right now, this wedge compresses near a strong support level at $0.0000100. A breakout above the upper boundary could unleash a wave of buying pressure.
Ethereum’s Ecosystem Narrative Adds Fuel
The technical indicators reinforce this view. The MACD histogram is approaching a bullish crossover, suggesting momentum may shift soon. Meanwhile, the Relative Strength Index (RSI) has cooled to 36.73, creating room for upward movement. The Chaikin Money Flow (CMF) sits at zero, indicating neutral capital inflow. However, the Balance of Power (BoP) hints at fading seller dominance. Altogether, these signals suggest that SHIB may be ready for a strong bounce.
SHIB’s deep integration with Ethereum could also play a major role. Crypto analyst Crypto Patel recently predicted that the next big rally would come from Ethereum-based projects. He listed Shiba Inu alongside PENDLE and PYTH as top contenders. That kind of endorsement brings fresh attention to SHIB, especially as Ethereum itself gains strength in the broader market.
A clean break above the $0.0000131 to $0.0000140 resistance zone would open the door to bigger moves. The next targets lie at $0.0000175 and $0.0000200. Reaching $0.0000220 would complete the cup-and-handle breakout, marking a 70% rally from current prices. With momentum building and the community watching, SHIB might just be gearing up for another breakout chapter.
