Technical Analysis Points to Potential Reversal as Burn Rate Soars

TLDR

• Analyst ALLINCRYPTO predicts a major price pump for Shiba Inu based on a bullish falling wedge pattern
• SHIB burn rate surged 1300% in 24 hours with 27.82 million tokens burned
• Shiba Inu price added over 11% value in the past week, trading at $0.00001272 as of April 21, 2025
• Whales dominate the SHIB ecosystem, holding 58.49% of the tokens
• CoinCodex predicts SHIB could rise 88.48% to reach $0.00002392 by April 25, 2025

Shiba Inu has captured the attention of crypto traders and investors once again as market analysts predict a major price pump on the horizon. The popular meme coin has shown promising technical indicators alongside an impressive burn rate, creating a buzz in the crypto community.

SHIB is currently trading at $0.00001272, marking a 2.19% increase over the past 24 hours. The token’s daily trading volume has also seen a massive uptick, surging by over 60% to reach $145.46 million.

According to analyst ALLINCRYPTO, Shiba Inu is forming a bullish falling wedge pattern on broader timeframe charts. This technical pattern, which consists of two downward-sloping, converging trend lines, often signals a trend reversal from downtrend to uptrend.

Shiba Inu $SHIB Upside expected, falling wedge likely resulting in the pullback being reversed ⏰ pic.twitter.com/4iT6Kpvq9V

— ALLINCRYPTO (@RealAllinCrypto) April 23, 2025

The analyst noted that SHIB has been in a temporary downtrend since December last year through April. However, the formation of this falling wedge pattern suggests that a trend reversal is imminent, potentially triggering a massive price rally.

Burning Tokens Fuels Price Optimism

Adding to the bullish outlook, Shiba Inu’s burn rate has skyrocketed by 1300% in the past 24 hours. Data from tracker Shibburn indicates that 27.82 million tokens were burned during this period.

Token burning reduces the circulating supply of SHIB, which can create upward pressure on the price if demand remains constant or increases. This massive burn rate has further boosted market sentiment around the meme coin.

The broader crypto market has shown strong performance over the past week, with Bitcoin reaching as high as $94,000. Shiba Inu has followed this upward trend, adding over 11% to its value in the past seven days.

Market indicators continue to point toward bullish momentum for SHIB. According to CoinGape, bulls currently dominate the meme coin based on the 3-month bias indicator. Their prediction suggests the token’s price could reach as high as $0.00001410 by the end of April.

Whale Dominance and Price Predictions

The Shiba Inu ecosystem is heavily dominated by large investors, commonly known as “whales.” Recent reports indicate that whales control 58.49% of all SHIB tokens, while other investors account for only 41.51% of holdings.

This concentration of tokens means that any price increase would benefit the entire ecosystem, but whales stand to gain the most from a potential rally.

Looking ahead, data from CoinCodex paints an extremely bullish picture for SHIB in the coming days. Their analysis predicts a stunning 117% rise on April 24, followed by an 88.48% increase on April 25, which would bring the price to $0.00002392.

Futures open interest for Shiba Inu has also jumped recently, hitting $162.85 million according to Coinglass data. This statistic adds weight to the bullish outlook, suggesting renewed market interest in the meme coin.

The Shiba Inu community is eagerly awaiting these potential gains after what has been described as a slow weekend for the token. The asset started the new week on a positive note and appears poised to step back into the spotlight.

The falling wedge pattern identified by analysts typically suggests a trend reversal is imminent. This technical formation, combined with the impressive burn rate and overall positive market conditions, has created a perfect storm of bullish indicators for SHIB.

As the crypto market continues to recover from recent volatility, Shiba Inu may be positioning itself for a breakout. With technical indicators, token burns, and market predictions all pointing up, SHIB holders are watching the charts closely for signs of the predicted pump.