Shiba Inu (SHIB) Could Surge Over 50% If It Breaks This Major Resistance Level (Analyst)

TL;DR

• Shiba Inu (SHIB) could see a strong price rise if it breaks the $0.000025 resistance.
• The combustion mechanism could also increase the valuation. Tokens destroyed in the last 24 hours total over 11.5 million.

New rally in these conditions?

As CryptoPotato reported Earlier, the meme coin sector suffered a significant pullback, with many tokens plunging double digits on a 24-hour scale. The second largest in terms of market cap – Shiba Inu (SHIB) – also underperformed, although recording lighter losses than PEPE, PNUT, BONK and others.

Currently, self-proclaimed killer Dogecoin is worth around $0.00002406, representing a 2% daily decline and an 8% weekly decline.

Some analystsHowever, I think it might start pumping again soon if certain vital factors are in place. THE popular Ali Martinez, X user think SHIB could see a 50% price increase if it breaks above the $0.000025 resistance. Currently, the valuation is only 3% away from hitting the stated mark.

Before that, the analyst claimed that nearly 1.7 trillion SHIB tokens withdrawn based on exchanges on a 24-hour scale. “The last time we saw a similar rise, the Shiba Inu price jumped 62%,” he added.

The move could indicate a shift from centralized platforms to self-custody methods. This could be interpreted as a bullish signal because it reduces immediate selling pressure.

Earlier this month, X user Zack Humphries do an even more optimistic SHIB prediction. He highlighted several factors that could push the price to a new all-time high. Some of these include the growing interest from retail investors and the advancement of Shiba Inu’s layer 2 scaling solution, Shibarium.

The protocol was on a tear lately, struck the massive milestone of 500 million transactions processed. For its part, the total number of blocks is closer to 8 million. For more ecosystem updates, check out our Shibarium news page.

Burn again

A important evidence suggesting that the price of SHIB may Indeed heading north in the short term is the resurgence of the meme coin burning program. Burn rate is in place more than 200% in the last 24 hours, resulting in over 11.5 million tokens destroyed.

The ultimate goal of the mechanism is to reduce the huge amount of SHIB in circulation, which could make it more valuable due to its scarcity. Since adopting the program, the team and community have sent approximately 410.7 trillion tokens to a zero address, leaving 583.7 trillion in circulation.