Shiba Inu (SHIB) Price Prediction: 81% Upside Potential as Bullish Falling Wedge Pattern Forms

SHIB faces key resistance at $0.000014 and $0.000019, with large token accumulations at these levels. Recent significant SHIB token burns and large whale transactions indicate growing market interest and potential supply reduction.

Shiba Inu (SHIB) is showing promise for a 81% price increase due to bullish falling wedge pattern, rising whale activity and surging burn rate.

Shiba Inu (SHIB) started as a joke, but it has now become one of the most talked-about cryptocurrencies in the world. What was once a meme coin is now attracting serious investors, and the latest market trends suggest something big could be on the horizon.

Analysts believe that Shiba Inu (SHIB) is setting the stage for a massive breakout, potentially sending the token soaring by 81%. Their predictions are based on a falling wedge pattern, surging whale activity and skyrocketing burn rate, all of which could propel SHIB prices to new highs.

After hitting lows of $0.0000115, Shiba Inu (SHIB) has shown signs of recovery, bouncing back to trade above $0.0000125. Despite a recent price drop, the token is still holding strong.

However, analysts believe that SHIB could be gearing up for a massive breakout, potentially targeting a 81.63% increase from current levels. If the bulls manage to break through the resistance at $0.0000129, then the next resistance level is at $0.000019.

But first, they must overcome the strong support at $0.0000115, which could prevent further declines.

What’s more, a staggering 548 trillion Shiba (SHIB) tokens have been accumulated at the key resistance level between $0.000014 and $0.000019.

After a recent surge in activity, large investors, also known as whales, seem to be losing interest in Shiba Inu (SHIB).

Over the past few days, whale activity has decreased significantly, with a total of 7.49 trillion SHIB tokens moved in large transactions. This is the lowest volume seen in the past two months.

At the same time, the SHIB burn rate has soared by 2227% in the last 24 hours, removing a total of $18.6 million worth of tokens from circulation.

Out of the total SHIB supply, 410.7 trillion tokens have now been burned, leaving 589 trillion tokens in available supply.

The burning initiative began in October 2020 with the aim of reducing the vast SHIB supply, which could help increase the token’s value over time. Since then, several SHIB tokens have been sent to an unretrievable wallet, effectively removing them from circulation.