Shiba Inu (SHIB) is back in the spotlight as its price clings to critical support, with rising burn rates fueling hopes for a potential breakout toward $0.000016.

After weeks of sideways trading, SHIB has shown renewed strength around the $0.000011 zone, signaling persistent buying interest despite minor dips. Investors and analysts are closely monitoring technical patterns and market activity, anticipating a decisive move in the coming sessions.

Burn Rates Surge Nearly 400%

The Shiba Inu community has actively reduced supply, with over 1.15 million SHIB tokens permanently burned in the last 24 hours—a near 400% increase in burn activity. This acceleration reflects ongoing efforts to tighten supply and support the token’s valuation.

Shiba Inu’s burn rate jumps 400%, supporting a potential price rebound from its key demand zone. Source: CoinGape via X

According to Shibburn data, approximately 410.75 billion SHIB have been permanently removed from the original supply, leaving 584.71 billion circulating and 4.52 billion staked as xSHIB. Despite a slight slowdown in daily burn rates by 13.67%, the long-term price implications remain positive, supporting scarcity and potential upside.

Technical Patterns Indicate Potential Breakout

Shiba Inu’s price has formed a symmetrical triangle pattern near key support, signaling consolidation ahead of a potential breakout. Resistance levels to watch are around $0.00001440 and $0.00001600. Analysts note that a daily close above these zones could pave the way for a sharp upward movement toward $0.000016 or higher.

Shiba Inu’s symmetrical triangle pattern signals an imminent breakout, highlighting its strong short-term bullish potential among memecoins. Source: Mark.eth via X

Shiba Inu is currently consolidating within a descending triangle pattern, suggesting that a decisive breakout could trigger a rapid price increase. Indicators such as daily green candles, higher lows, and increasing trading volume point to growing bullish momentum among traders.

Exchange Flows Highlight Market Dynamics

On-chain analysis indicates increased exchange activity with inflows surging almost 200% to 2.94 billion SHIB. While such increases could signal potential selling pressure, they are usually connected with higher volatility and don’t necessarily have to do with downward action right away.

Shiba Inu’s trading volume surged 200%, with exchange netflows approaching 3 billion SHIB, signaling heightened market activity. Source: Shib Spain via X

Meanwhile, outflows rose significantly from 378,510 to 2.29 million SHIB, meaning investors are moving coins to long-term wallets and reducing the pressure for near-future sales. The combination of burn activity and strategic outflows signals bullish continuation potential.

Leadership Problems and Security Threats

These supply-side and technical pluses aside, Shiba Inu has internal problems. Leadership uncertainty has unsettled some holders. Lead developer Shytoshi Kusama has offered to step down, and chief developer Kaal Dhairya hasn’t filled a leadership role. The Shibarium Bridge was also breached last month, losing over $4 million, with recovery efforts still underway.

These events have created doubts regarding project stability and long-term governance, making investors wary even with the token’s sound technical foundation.

Shiba Inu Price Prediction

If SHIB is defended at $0.000012 and overcomes resistance at $0.000014, the bulls are poised to seek $0.000016 levels soon. Analysts emphasize the point that market sentiment and momentum will play a crucial role. However, if support collapses, it could trigger a dip to $0.000011, ruining the bullish trend.

Shiba Inu was trading at around $0.00001174, down 2.89% in the last 24 hours at press time. Source: Brave New Coin

Shiba Inu remains one of the best memecoins with strong community support, strong burn initiatives, and technical momentum with the potential to grow. With a supply deficit, the mounting outflow, and support levels in position, SHIB is well-positioned for a potential resurgence, provided investor sentiment continues to hold.