Shiba Inu (CRYPTO: SHIB) is flashing strong bullish signals, with a massive spike in the burn rate fueling trader optimism about a major breakout.
| Cryptocurrency | Ticker | Price | Market Cap | 7-Day Trend |
| Shiba Inu | (CRYPTO: SHIB) | $0.00001514 | $8.9 billion | +10.3% |
| Dogecoin | (CRYPTO: DOGE) | $0.2652 | $39.8 billion | +33.9% |
| Pepe | (CRYPTO: PEPE) | $0.00001385 | $5.8 billion | +8.4% |
Trader Notes: Crypto analyst Javon Marks highlights an inverse Head & Shoulders pattern forming on SHIB's chart.
The price is now in the final shoulder phase, setting the stage for a potential breakout to $0.000081, implying a 431% upside.
If confirmed, this setup could ignite a 5X rally, echoing past explosive SHIB runs.
Galaxy sees SHIB approaching a key resistance level that may soon give way to higher prices.
Statistics: Shibburn data shows burn rate soared 6,568.2% in the past 24 hours as 22.9 million SHIB were removed from the ecosystem.
Around 13 hours ago, a single transaction burned 16.4 million SHIB.
Shibariumscan data points to daily transactions maintaining strong momentum at 4.63 million.
IntoTheBlock data shows Shiba Inu large transaction volume expanded by 279.7% in a single day, while daily active addresses grew 15.2%.
Transactions greater than $100,000 jumped from 55 to 101.
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