Shiba Inu is About to Explode: Analysts Predict a Massive Price Rise

Shiba Inu ( SHIB ) is still holding strong above the important support level of $0.0000125 despite recent price fluctuations, maintaining bullish hopes. According to technical indicators, this token may be poised for a significant breakout. One of the most notable bullish signals is the emerging falling wedge breakout pattern. According to some analysts, this formation could set the stage for a potential 81% price increase. Some even speculate that SHIB could increase 17 times from its current level—a forecast that is stirring excitement among investors. Whale activity surged as SHIB reached $0.00001367 On March 20, Shiba Inu surged past the $0.000013 mark, coinciding with a strong increase in large transactions. Data from IntoTheBlock indicates a significant rise in transactions worth over $100,000, totaling 7.49 trillion SHIB—valued at approximately $97 million. This marks a 197% increase compared to 2.52 trillion SHIB that were transferred just one day prior. Notably, this is the highest trading volume that SHIB has seen in the past two months. The return of whale interest is considered a very bullish development, indicating strong market confidence.

Burning speed accelerates, supply decreases Shibburn's data shows that the SHIB burn rate has increased by 21% in the past 24 hours, with approximately $17.1 million worth of SHIB permanently removed from circulation. So far, more than 410 trillion SHIB tokens have been burned and the total circulating supply has decreased to 589 trillion. This deflationary trend could put bullish pressure, supporting the bullish case. The price target has risen in the context of increasing optimism. Technical experts have begun adjusting their price target for SHIB following recent market activity. The 81% breakout is expected to set the next target near $0.000023, based on the current level.

Some analysts are even more optimistic, with price models forecasted to potentially increase by 17 times. While such forecasts depend heavily on broader market sentiment and retail demand, the combination of increased whale trading and reduced token supply could make this scenario more feasible. Investors are approaching the current bullish signals with cautious optimism. However, on-chain metrics indicate that strong undercurrents could push SHIB back into the spotlight once again. If the upward momentum holds, The Bit Journal believes that Shiba Inu could soon regain its status as one of the most talked-about cryptocurrencies in the market.