Shiba Inu Price Prediction: Shiba Inu Breaks Triangle Pattern with Massive Hike in SHIB Burn Rate — Could It Finally Flip Dogecoin?

Shiba Inu (SHIB), one of the leading meme-based cryptocurrencies, is showing renewed strength after a technical breakout against Bitcoin (BTC) and a historic surge in its token burn rate.

The Shiba Inu price climbed to a one-month high of $0.00001359 this week, posting a 9% gain in just 24 hours. This bullish momentum coincides with a notable spike in SHIB’s burn activity, raising speculation about whether SHIB could finally challenge Dogecoin (DOGE) in the meme coin race.

According to data from Shibburn, more than 1 billion SHIB tokens were destroyed over seven days, marking a 1,677% surge in burn rate. On July 10 alone, over 1 billion tokens were burned, the largest single-day deflationary event in SHIB’s history. The community-led effort, bolstered by whale transactions and automated burn mechanisms on Shibarium, reflects growing interest in long-term tokenomics.

SHIB Price Action Gains Momentum

Technically, SHIB has broken out of a long-term descending triangle on the SHIB/BTC pair, suggesting a trend reversal after months of decline. Tim Hakki of CryptoNews notes that the token surpassed its 50-day simple moving average of $0.00001242, further strengthening bullish sentiment. While SHIB underperforms against DOGE in the SHIB/DOGE trading pair, analysts believe the token is setting the stage for an extended rally.

Shiba Inu is consolidating within a descending channel, currently holding above midline support and testing the 50-day moving average. Source: Jonathan Carter via X

“The price structure is aligning with a potential breakout,” said Jonathan Carter, a crypto analyst, who points to upcoming resistance levels at $0.00001500, $0.00001750, and $0.00002500. Carter also mentioned that SHIB is nearing the midline of a descending channel on the daily chart, with the 50-day moving average acting as a key breakout zone.

Can SHIB Flip Dogecoin?

With SHIB eyeing a 4x surge, the question is if it can finally flip Dogecoin in market capitalization. While DOGE remains dominant, Shiba Inu’s accelerating deflationary model and increasing ecosystem development give it an edge. Over 1.3 billion SHIB were burned in a week, a record amount, and whale participation alone accounted for 131 million tokens burned.

Continued token burns combined with increased utility through Shibarium could help narrow the gap with Dogecoin if the current pace is maintained.

SHIB Burn Rate Soars but Price Remains Cautious

Despite the aggressive deflationary push, SHIB’s price has remained relatively stable. Over the past 7 days, SHIB is up around 14%, trading near $0.00001311 at press time. However, analysts caution that token burning alone does not guarantee sustained price growth.

Shiba Inu (SHIB) was trading at around $0.00001314, down 2.38% in the last 24 hours at press time. Source: Brave New Coin

A recent report by Cointribune emphasized that SHIB’s circulating supply has fallen to approximately 584.56 trillion, down from a max supply of 1 quadrillion. While this reduction is significant, it may not be enough to trigger a full-scale rally without a concurrent spike in demand.

Shibarium Development Adds Real Utility

Another bullish factor lies in Shibarium, SHIB’s Layer 2 blockchain, which is actively supporting decentralized applications and utility-driven tools. Lucie, a core member of the SHIB team, highlighted the shift from speculative trading toward infrastructure building: “We’re seeing more developers and fewer speculators. That means real-world use is taking priority.”

Shibarium also facilitates automated token burns through platforms like ShibTorch, converting gas fees into deflationary events. The emergence of apps and smart contracts within the SHIB metaverse could attract new users and long-term holders.

Price Prediction and Outlook

In the short term, SHIB appears poised to test key resistance at $0.00001500, and potentially climb toward $0.00002500 if momentum holds. The recent spike in the SHIB burn rate, coupled with growing institutional interest and positive sentiment, suggests bullish potential in the coming months.

SHIB is showing signs of a bullish reversal, with potential price targets at 0.00002393, 0.00003209, and 0.00004523 based on key Fibonacci levels. Source: Wavervanir_International_LLC on TradingView

Longer term, some SHIB price predictions suggest that if the ecosystem continues to expand and demand catches up with deflation, Shiba Inu could reach new heights. However, risks remain, particularly in terms of broader market volatility and reliance on speculative interest.

Final Thoughts

Shiba Inu is making headlines again, not just as a meme coin but as a maturing digital asset with a deflationary model and active blockchain development. While the SHIB burn rate continues to hit record levels, price action has yet to fully reflect this shift. If demand accelerates and the Shibarium ecosystem scales, SHIB could mount a serious challenge to Dogecoin’s dominance. For now, the meme coin remains one to watch closely.