Shiba Inu (SHIB) Price Could Explode 80% in April 2025 After Breaking Out of Falling Wedge

Shiba Inu price today trades at $0.0000133 after a 5% drop in 24 hours. This decline follows a massive pullback across the broader crypto market

Shiba Inu (SHIB) price could be on the verge of an 80% rally in April 2025 after the meme coin broke out of a falling wedge pattern. This breakout hints that SHIB price may double next month, possibly leading gains across the broader crypto market.

After a hot PCE inflation reading in the U.S. sparked a broader crypto market pullback, Shiba Inu price dropped by 5% in the past 24 hours. Despite this decline, the world’s second-largest meme coin is still holding on to a bullish setup on the daily chart.

More importantly, after months of bearish trends, the meme token broke out of a falling wedge pattern and teased a reversal to bullish trends.

After the recent drop, SHIB retested the upper trendline of the falling wedge as support. If it avoids breaking below this trendline, it could pave the way for a nearly 80% price gain for the meme coin to reach $0.000023. At this point, SHIB will have doubled in price.

To confirm the strength of this bullish breakout, the Relative Strength Index (RSI) needs to tip north and recover past the 50 mark to show bullish momentum and an increase in buying activity. At press time, SHIB’s RSI stood at 48, which is a neutral level.

This falling wedge pattern shows the possibility that the Shiba Inu price can recover. However, for a strong uptrend, buying pressure needs to increase.

How DeFi Activity and SHIB Burn Rate Will Drive Gains

One of the top reasons why the Shiba Inu price can witness a 2x price rally in April 2025 is a spike in the burn rate. Data from Shibburn shows that in the last week of March, the burn rate soared by more than 3,400%, with more than 2 billion tokens being taken out of circulation. This spike comes after a mysterious user burned 2 billion SHIB tokens.

Apart from the rising SHIB burn rate, data from DeFiLlama also shows a spike in the Total Value Locked (TVL) and Decentralized Exchange (DEX) volumes on the Shibarium layer 2 blockchain.

Last week, the total DEX volumes on ShibaSwap reached $9.83 million, which was the highest level since mid-January. Meanwhile, the Shibarium TVL recently soared past $3M highlighting rising usage of the DeFi platform.

As the SHIB burn rate increases and the Shibarium network records an increase in adoption from DeFi users, the Shiba Inu price may register an 80% rally in April 2024 and post 2x gains.