Key Insights
- •Shiba Inu price prediction begins with its year-long falling wedge, showing the downtrend is losing steam and a breakout could soon take shape.
- •Each dip has grown smaller, hinting that sellers are fading.
- •The latest bounce off the lower trendline shows SHIB buyers are still defending key levels.
Shiba Inu Price Prediction: Shiba Inu Gains 5% As Falling Wedge Nears Completion
The latest expert Shiba Inu price prediction shows SHIB could be entering a bullish phase with a long-term falling wedge pattern now appearing almost complete, which suggests a possible breakout to multi-year highs could be on the cards.
SHIB recently bounced from a low of $0.00000756 and recorded a week-on-week gain of 5%. That rebound shows user interest remains strong, even when recent price action looked weak.
In the latest Shiba Inu price prediction, the second largest meme coin is heading into a key area on the chart after noting a 5% uptick over the last one week.
For more than a year, the token has been stuck inside a wide falling wedge, slowly grinding lower but losing momentum along the way.
Each drop has been a little softer than the last, and this week’s bounce off the lower trendline is another sign that sellers are starting to tire.
Buyers are still showing up at the key levels, which keeps the structure intact and the setup interesting.
A breakout followed by a small pullback is the classic signal that momentum is changing. The example on the chart shows exactly how this usually plays out.
Because this wedge has formed over a long period, a breakout would carry more significance. It would suggest that sellers are finally running out of pressure after many months.
The long-term Shiba Inu price prediction is for the meme coin to break above the stubborn $0.0000090 level, a resistance that has held firm all through November.
Spike in Burn Rate Signals Potential Price Upside
Shiba Inu’s burn activity picked up sharply this week. In just 24 hours, more than 61.5 million tokens were taken out of circulation, pushing the burn rate close to 800%.
During the same stretch, SHIB’s market value also nudged higher, rising 1.26% to about $5.03 billion.
Analysts said the move signals a bit of fresh interest returning to the token and a community that’s becoming more active again.
SHIB’s total supply remains massive, exceeding 589.2 trillion tokens. Still, burn activity continues to rise.
Over the past week, Shiba Inu (SHIB) holders burned close to 99 million tokens — a sharp 67% jump from the previous week.
Even so, the token is still far from the explosive rally it posted in the last bull market, and it hasn’t been able to capture that kind of momentum again.
Economist Kamile Uray pointed this out in a recent post, noting that Shiba Inu once delivered life-changing returns during its 2021 surge.
According to her, many early holders watched their portfolios grow rapidly but chose not to take profits. As a result, the long four-year downturn that followed wiped out much of those gains.
Even so, there are signs of strength on the technical side of this Shiba Inu price prediction. The MACD is still leaning bullish and the RSI currently stands at 59.
That puts the relative strength index in a neutral spot for now, as traders wait to see which way the market wants to move next.