Shiba Inu Price Targets $0.000026 Amid 4.7M Token Burn and Shibarium Security Boost

The Shiba Inu price trades at $0.00001297 following a 1.26% gain over the last 24 hours, at press time. The token has developed an inverse head and shoulders pattern, implying a potential bullish reversal in case the neckline resistance is breached. Also, a recent surge in token burns and a security upgrade of Shibarium have given an extra boost to market confidence. The Shiba Inu price is therefore in a good position to break out in the near future.

Shiba Inu Price Action Strengthens Pattern Aligns With RSI Neutral Zone

Shiba Inu has just formed an inverse head and shoulders and the neckline breakout around $0.00001306. This bullish pattern is usually a trend reversal pattern and the upside may rally as high as $0.00002600, a possible 100% price surge. 

Therefore, the upside pressure can be enhanced provided that the neckline holds. The horizontal resistance remains firm at $0.00001397 and $0.00001600 and these levels must be breached to ascertain additional gains. 

But near-term support is around $0.00001252 and losing it could undermine the bullish argument. Generally, the structure supports a bullish Shiba Inu price prediction 2025.

The price of Shiba Inu has also adhered to its consolidation channel as it has rebounded off essential demand areas. The Relative Strength Index (RSI) is at the moment at 48 which is a neutral indicator, but with some upside potential should it enter the bullish territory. 

However, the sellers remain at the mid-range resistance that creates possible short-term pullbacks. In case the price breaks above the price of $0.00001724, the rally may gain pace at a very high rate for this top memecoin.

Burn Spike And Shibarium Security Upgrade Reinforce Long-Term Confidence

Shiba Inu has had an impressive burn event, and over 4.7 million tokens were burned. This represents a 1,985% burn rate surge in 24 hours. The aggressive burns have a direct effect on the market supply, giving the ecosystem long-term bullish pressure. 

In addition, Shibarium has recently reinforced its security with a partnership with DegenSafe. These development aims to enhance the security of users. The decision is made as scams and hacked wallets are the major threats in the crypto world. 

However, the burn and security upgrade together highlight the project’s proactive stance in reinforcing fundamentals. Thus, the retail and institutional players can take these events as a sign of good confidence. 

Although the level of prices is at the mercy of technical follow through, these highlights add strength for a bullish case. As a result, Shiba Inu is building a base for long-term sustainable growth.

To sum up, the Shiba Inu price prediction remains bullish supported by the inverse head and shoulders breakout and the RSI recovery signals. The huge burn rate activity supports the reduction in supply and Shibarium upgrades enhance network security. If traction builds, resistance levels could give way to higher valuations. Thus, SHIB has a positive short- to mid-term outlook.

Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.