Shiba Inu Burn Rate Skyrockets 390% as Top Analyst Predicts Major Price Recovery

Shiba Inu (SHIB) is back in the spotlight as its burn rate has surged by an impressive 390%. Millions of SHIB tokens have been permanently removed from circulation, boosting investor optimism. However, despite this spike in burns, SHIB’s price has yet to reflect similar bullish momentum.

Crypto analyst Ali Martinez, however, believes a strong recovery could be on the way, pointing to a key signal on the weekly chart.

SHIB Burn Rate Jumps – Over 16 Million Tokens Removed

Blockchain tracker Shibburn reported a sharp rise in SHIB’s burn rate over the past 24 hours, with 16,479,283 SHIB tokens permanently taken out of circulation.

The largest single burn transaction accounted for 13,717,986 SHIB, while another significant transaction burned 2,026,165 SHIB.

Despite this daily increase, the weekly burn rate has slowed down significantly. In the last seven days, only 61,082,353 SHIB tokens were destroyed, marking a 94.82% drop compared to previous weeks.

Even with this temporary slowdown, many SHIB holders remain optimistic about a potential price rally.

Analyst Predicts a Bullish Reversal for SHIB

Crypto analyst Ali Martinez has identified a strong buy signal for Shiba Inu using the TD Sequential indicator. According to his latest analysis, SHIB’s weekly candle chart suggests a possible bullish reversal.

While he didn’t specify a price target, past trends indicate that similar signals have often led to price increases.

Martinez previously predicted that SHIB could rise to $0.000029, an 89% increase from its current level of $0.0000159, based on a similar buy signal.

Although the TD Sequential indicator has had mixed accuracy, analysts believe that combining it with broader market trends could improve its reliability.

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Shib Forming Rare Golden Cross

Shiba Inu’s latest price analysis shows the formation of a rare Golden Cross on the weekly chart, a pattern often seen as a strong bullish signal.

Currently, SHIB is trading at $0.000016, with a slight increase in the past 24 hours. Its market cap now stands at $9.4 billion.

The last time SHIB formed this pattern was in February 2024. Shortly after, the price surged 377% in March, reaching $0.00004567—a level not seen since 2021.

With key technical patterns emerging and bullish signals flashing, investors are watching closely to see if SHIB is gearing up for another major rally.

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