Shiba

Eternity

Burn

Kusama

Shiba Inu

<p>The post <a href="https://coinpedia.org/news/shib-price-prediction-shiba-inu-price-poised-for-60-spike-as-burn-rate-surges/">SHIB Price Prediction: Bullish Pennant Hints at 60% Profit As Burn Rate Surges</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p><a href="https://coinpedia.org/price-prediction/shiba-inu-price-prediction/" target="_blank" rel="noreferrer noopener">Shiba Inu</a> finds itself in a tough spot, wrestling with resistance at the $0.000025 price mark. Despite a recent attempt at a rally, <a href="https://markets.coinpedia.org/shiba-inu/" target="_blank" rel="noreferrer noopener">SHIB</a> struggled to hold its ground and slipped below this crucial level. The result? A 5% drop, hitting a low of $0.00002361. Though SHIB has made gains over the past month, crossing the $0.000025 mark remains a tough nut to crack.</p> 
<p>One striking development is the rapid pace of coin burning. The Shibburn Explorer data reveals a whopping 62.58% surge in the SHIB burn rate in just 24 hours.</p> 
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   <p lang="en" dir="ltr">HOURLY SHIB UPDATE<a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a> Price: $0.00002383 (1hr -1.77% ▼ | 24hr -3.80% ▼ )<br>Market Cap: $14,172,538,490 (-2.80% ▼)<br>Total Supply: 589,273,577,774,968<br><br>TOKENS BURNT<br>Past 24Hrs: 6,985,600 (62.58% ▲)<br>Past 7 Days: 57,671,544 (-56.28% ▼)</p>— Shibburn (@shibburn) <a href="https://twitter.com/shibburn/status/1792450237543387343?ref_src=twsrc%5Etfw">May 20, 2024</a>
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<p>But, what do you make of all this? Read on. </p> 
<h2 class="wp-block-heading" id="h-community-fire">Community Fire! </h2> 
<p>In the past week, the SHIB community has been active in burning tokens, torching 57,671,544 SHIB coins—a 57% decrease from the previous week. So far, a staggering 410,726,422,225,031 SHIB has been taken out of circulation, leaving 582,992,864,057,113 SHIBs circulating and 6,280,713,717,854 SHIBs locked in staking platforms.</p> 
<h2 class="wp-block-heading" id="h-bullish-signs-on-the-charts"><strong>Bullish Signs on the Charts </strong></h2> 
<p>Market analysts have spotted a bullish pennant pattern on the Shiba Inu chart, signaling the potential for significant profits. This suggests SHIB might resume its upward climb after a consolidation period. Analysts foresee potential profits of over 62% in the near future.</p> 
<p><strong>Clifton’s Analysis</strong></p> 
<p>Prominent Bitcoin analyst Clifton <a href="https://x.com/clifton_ideas/status/1792045985465819536" target="_blank" rel="noreferrer noopener nofollow">highlighted </a>the formation of a bullish pennant on Shiba Inu’s 24-hour timeframe.</p> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SHIB</a> (Update)<br><br>Bullish Pennant Formation in Daily Timeframe…<br><br>In Case of Upside Breakout We Can See 50 – 60% Bullish Rally<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://twitter.com/hashtag/SHIBUSDT?src=hash&amp;ref_src=twsrc%5Etfw">#SHIBUSDT</a> <a href="https://twitter.com/hashtag/SHIB?src=hash&amp;ref_src=twsrc%5Etfw">#SHIB</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> <a href="https://t.co/XRTtPDnjRr">pic.twitter.com/XRTtPDnjRr</a></p>— Clifton Fx (@clifton_ideas) <a href="https://twitter.com/clifton_ideas/status/1792045985465819536?ref_src=twsrc%5Etfw">May 19, 2024</a>
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<p>According to Clifton, this pattern suggests that SHIB could soon experience a breakout, potentially netting holders a short-term profit of up to 60%. The bullish pennant formation, which resembles a symmetrical triangle, typically signals that an asset is ready to resume its uptrend after encountering brief resistance.</p> 
<h2 class="wp-block-heading" id="h-dreaming-big"><strong>Dreaming Big</strong></h2> 
<p>Other market analysts have echoed Clifton’s optimistic outlook. Davie Satoshi, another analyst who identified the bullish pennant, proposed higher breakout targets, predicting SHIB could reach above $0.00005. Pseudonymous analyst “World of Charts” also identified $0.00005 as a potential target for SHIB.</p> 
<p>Further, a Bitcoin analyst suggested that SHIB enthusiasts might anticipate the $0.00008 price level. Another analyst even argued that SHIB could reach $0.00015 by next month, which would mark a historic high for the cryptocurrency, entering previously uncharted territory.</p> 
<h2 class="wp-block-heading" id="h-the-road-ahead-bullish-future"><strong>The Road Ahead: Bullish Future? </strong></h2> 
<p>The SHIB team announced several updates for Shibarium in 2024-2025. These include the SHIB Metaverse, a new Shiba Eternity game, ShibaSwap DEX 1.75 and 2.0, a layer-3 test net, and the TREAT token for the new blockchain. To build the layer-3 solution, they recently raised $12 million from investors. SHIB lead Shytoshi Kusama has been traveling to pitch the layer-3 project and secure funding.</p> 
<p><strong>As SHIB grapples with resistance, the big question remains: will it break free and achieve predicted gains, or will it face more challenges ahead?</strong> <strong>Stay tuned as Coinpedia reports all the latest developments.</strong></p> 
<p>Also Check Out: <a href="https://coinpedia.org/price-analysis/memecoins-for-3x-profits-by-the-end-of-may/">Memecoins For 3x Profits By the End of May!</a></p>

SHIB Price Prediction: Bullish Pennant Hints at 60% Profit As Burn Rate Surges

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