Technical predictions show Shiba Inu (SHIB) is ready to surge 70%? Here’s what analysts say!

Jakarta, Pintu News – Shiba Inu (SHIB) has recently shown a significant increase in token burning activity, which has resulted in a price increase. With technical patterns indicating the potential for a large increase, many are wondering if this is the beginning of a significant price spike.

Is Shiba Inu (SHIB) Poised for a 70% Price Increase?

Shiba Inu (SHIB) has managed to break out of its long-standing downtrend and is showing signs of strong support at the level after retesting. The cup and handle pattern formed is a bullish structure that often precedes strong price spikes.

This signals that Shiba Inu (SHIB) may be preparing for a significant price increase. This pattern, which has been forming over the past few weeks, suggests that there is significant accumulation of investors who believe in the long-term potential of Shiba Inu (SHIB).

Also Read: Ripple (XRP) Movement and Potential Correction: What Crypto Investors Need to Watch Out for?

Do SHIB Whales Accumulate When Tokens Exit the Exchange?

The exchange’s net flow data shows a sharp decline of 54.5 billion SHIB tokens in the last 24 hours, which is a change of -17.1%. This trend confirms that token holders tend to withdraw their tokens from the exchange, which may be for long-term storage or strategic positioning.

This is an indication that there is confidence in the future increase in the value of the token. A reduction in the number of SHIB tokens available on exchanges could reduce selling pressure and, as a result, support the potential for further price increases.

Can Liquidation Clusters Boost Bullish Momentum?

Gate.io’s 24-hour liquidation heatmap shows an intensive liquidation zone just below the current price, specifically near $0.00001200. This cluster shows that many short positions have been closed, which is an indicator that the bears are losing control of the price at this key level.

This can be an additional boost to bullish momentum. When short positions are closed, it often creates buying pressure in the market which can accelerate price gains.

Conclusion

With all critical indicators showing bullish signals, Shiba Inu (SHIB) appears to be on the verge of a significant price increase. Although market sentiment still shows some hesitation, the current market structure and the activity within it suggest that the potential for a large price increase is highly likely in the near future.

Read More: Pepe Coin (PEPE) Price Movement and Potential Golden Cross: What Does It Mean for the Crypto Market?

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• AMB Crypto. Shiba Inu (SHIB) price prediction: A 70% rally next after 300% burn rate hike. Accessed on April 14, 2025
• Featured Image: Coinpedia