- Shiba Inu shows strong bullish signals, with technical analysis predicting a potential 189% surge in price, supported by consistent higher highs and an accumulation phase.
- Its ecosystem growth, driven by the Shibarium layer-2 network and significant token burns, strengthens its long-term prospects beyond its meme coin origins.
The cryptocurrency market is buzzing as Shiba Inu, one of the most talked-about meme coins, hints at a potential 189% price surge. Recent analyses and ecosystem developments suggest that the coin might be on the verge of a significant breakout. Here’s what’s driving this bullish sentiment.
Bullish Signals in Shiba Inu’s Technical Analysis
Crypto analyst Alan Santana recently highlighted encouraging trends in Shiba Inu’s price movement on TradingView. According to his insights, Shiba Inu’s daily chart shows a pattern of consistently higher highs, forming an oval trend that points to a potential upward momentum.
For over a month, the coin has hovered around the $0.000024 mark, suggesting an accumulation phase — often a precursor to major price movements. At the time of the analysis, Shiba Inu was trading at $0.00002755, despite a recent 7-day correction of 11.20%. Santana predicts a target price of $0.0000702, which would signify a remarkable 189.60% surge.
Shiba Inu’s Ecosystem Evolution: A Key to Longevity
Beyond technical charts, the long-term growth of Shiba Inu hinges on its ecosystem developments. The Shiba Inu community, led by figures like Shytoshi Kusama, emphasizes the importance of ecosystem expansion and partnerships over mere token burns.
Central to this strategy is Shibarium, the blockchain’s layer-2 network. By leveraging gas fees, Shibarium has contributed to the burning of nearly 56 billion SHIB tokens, reducing supply and increasing the potential for price appreciation. Additionally, a dedicated burn portal has permanently removed over 600 million SHIB tokens from circulation.
These developments strengthen Shiba Inu’s position in the market, enhancing its utility and appeal to a broader audience.
What’s Next for Shiba Inu?
With strong technical signals and a thriving ecosystem, Shiba Inu seems poised for a major move. While the potential for a 189% surge is exciting, investors should remain cautious, as cryptocurrency markets are notoriously volatile.
As Shiba Inu continues to expand its ecosystem and gain traction in the crypto space, it could cement its place as more than just a meme coin, proving its utility and value in the long run.
