Shiba Inu (SHIB) Price Prediction: Technical Indicators Suggest Potential Surge

Market watchers have turned their attention to Shiba Inu as technical indicators suggest a potential price surge for the popular meme coin.

Shiba Inu price is showing signs of heating up as technical analysis suggests the popular meme coin could be setting up for a move higher.

What Happened: Market Watchers have turned their attention to Shiba Inu as technical indicators suggest a potential price surge for the popular meme coin.

With a sharp increase in token burns and favorable chart patterns, SHIB appears to be positioning for upward movement in the coming days.

Shiba Inu is currently trading at $0.00001272, up 2.19% over the last 24 hours. This move higher comes as daily trading volume has risen by 60% to $145.46 million.

Crypto analyst ALLINCRYPTO shared a bullish outlook for SHIB on X. According to the analyst, the token has formed a falling wedge pattern on its longer timeframe charts.

Shiba Inu $SHIBUpside expected, falling wedge likely resulting in the pullback being reversed ⏰ pic.twitter.com/4iT6Kpvq9V

— ALLINCRYPTO (@RealAllinCrypto) April 23, 2025

The pattern consists of two converging, downward-sloping lines that connect the highs and lows of the price action. In SHIB’s case, this pattern has been developing since December last year through April.

Related Link: A Complete Guide To Shiba Inu (SHIB) Tokens, Burning And The Ecosystem

Token Burns Surge

One of the most striking developments for Shiba Inu has been the dramatic increase in its burn rate. Data from tracker Shibburn reveals a 1300% surge in token burns over the last 24 hours, with 27.82 million SHIB being removed from circulation.

Token burning is the process of permanently removing coins from the available supply by sending them to an unusable wallet address. This reduction in supply, if paired with steady or increasing demand, can create upward pressure on price.

The recent burn activity has generated excitement among SHIB holders who view it as a positive catalyst for price action. With fewer tokens in circulation, each remaining token may become more valuable if market interest continues to grow.