- An analyst predicts Shiba Inu’s (SHIB) potential surge to 724%, urging patience for investors as the market unfolds.
- Shiba Inu’s burn rate surged 144,223%, coupled with increased wallet activity, signaling strong network engagement.
Based on a recent analysis by prominent crypto analyst Alan Santana on TradingView, SHIB is keeping its position above important support levels, indicating significant near-term bullish potential. Santana noted the token may see a notable increase as long as SHIB trades above the specified “baseline.”
Although the date of the next price surge is unknown and possibilities span three days to one to two weeks, the prognosis remains hopeful and points to significant price rises in the future weeks and months.
Strategic Projections Highlight SHIB Path Forward
For SHIB, Santana lists possible surge targets at 105%, 410%, and even 724%. Still, he stresses the need for patience since volatile market conditions often result in unplanned delays. Given SHIB’s recent price behavior, these projections especially stand out.
Reflecting a 7.14% correction over the last 24 hours, SHIB is trading at about $0.0000298 at the time of writing. Notwithstanding this correction, the coin has shown tenacity with a 53.44% rise over the last 30 days, therefore highlighting its bullish technical structure.
Adding to the enthusiasm, new events in the Shiba Inu ecosystem have stoked hope even more. According to CNF, over 2 billion tokens were taken from circulation as SHIB’s burn rate skyrocketed 144,223% in only one day. Long-term price stability and development are likely to benefit from this notable drop in supply.
Wallet activity in the Shiba Inu network has also surged recently. Compared to the usual daily growth of around 2,400 wallets, 7,548 new wallets were generated on one single day—a startling 214% rise, as we previously reported.
