Key Takeaways:
- Shiba Inu shows bullish divergence, signaling potential for up to 200% gains.
- Futures open interest rose to $73M, reflecting increasing trader confidence.
- 622 million tokens burned in 24 hours, boosting scarcity and upward momentum.
- Risks remain, including network performance and fluctuating investor demand.
Shiba Inu Could Soar 200% Amid Record Burn Rate and Rising Open Interest
Shiba Inu (SHIB) is capturing investor attention as recent market signals point toward a potential 200% price surge. Key indicators such as bullish divergence, increasing futures open interest, and record token burns suggest the meme-inspired cryptocurrency may be poised for a major breakout.
Technical Setup Signals Bullish Momentum
Analysts highlight that SHIB’s price is forming a bullish divergence, a technical pattern often signaling potential rebounds. Divergence occurs when price trends downward while indicators like RSI and MACD make higher highs, hinting at underlying strength. According to analyst Javon Marks, if the trend continues, Shiba Inu could see as much as 200% upside.
Historically, SHIB has shown similar behavior. Between May 2022 and February 2024, it consolidated between $0.0000063 and $0.00001758 before rallying. Today, the token trades between $0.0000097 and $0.00001636, forming a clear accumulation zone, which many traders interpret as a foundation for potential long-term gains.
Rising Futures Open Interest Boosts Confidence
SHIB’s momentum aligns with broader crypto market recovery, including Bitcoin climbing above $107,000 and XRP surging over 10%. Futures open interest—a measure of leveraged demand—has also spiked. CoinGlass data reports $73 million in open interest, up from $60 million over the weekend. Rising open interest reflects increasing trader confidence, which could amplify price movements if demand continues to grow.
Explosive Burn Rate Increases Scarcity
Another bullish catalyst is Shiba Inu’s token burn rate. In the last 24 hours, 622 million SHIB were removed from circulation, with one transaction alone accounting for 621 million tokens. This dramatic reduction in supply creates upward pressure on the price and demonstrates active community participation.
Also Read: Shiba Inu Burn Rate Soars 3,484% as 537 Million SHIB Tokens Go Up in Flames
While these signals are promising, investors should remain cautious. SHIB’s network performance and varying investor demand present potential risks. However, the combination of technical setup, accumulation patterns, rising futures interest, and record token burns indicate a strong probability for short-term price acceleration.
Shiba Inu remains one of the most closely watched cryptocurrencies, drawing interest from both speculative traders and long-term investors. With multiple bullish indicators aligning, the token could be on the verge of a significant rally.
