Quick Highlights
- SHIB trades near $0.00001223 within a triangle pattern that could lead to a 142% rally if resistance breaks above $0.00001400.
- The token burn rate surged over 201,000% in 24 hours, removing 4.5 million tokens from circulation.
- Technical patterns and supply reduction create multiple bullish catalysts.
As noted in our earlier post, Bybit exchange data reveals nearly three trillion SHIB tokens held across user accounts. This concentration demonstrates significant institutional and retail interest in the cryptocurrency. Large holdings on major exchanges provide liquidity for potential price movements.
Shiba Inu (SHIB) trades near $0.00001223 at the time of writing, as market participants monitor critical price levels for signs of directional movement. The meme coin remains within a defined range that analysts believe could determine its near-term trajectory.
According to technical indicators, the accumulation cycles tend to occur before major price fluctuations in cryptocurrency markets. The ongoing shift in the trading volume patterns, accompanied by the price consolidation, is reflected in the current SHIB positioning.
Triangle Pattern Signals Potential Volatility Surge
Chart analysis reveals SHIB forming a symmetrical triangle pattern with narrowing price boundaries. The token has tested resistance several times at $0.00001400 without making a conclusive breakthrough. Support levels near $0.00001100 have provided consistent price floors during recent corrections.
SHIB/USDT Source: TradingView
Such compression is generally a sign of accumulating market pressure. Historical data shows similar formations often resolve with pronounced price movements in either direction. The range remains narrow, indicating low pressure in selling, and the buying interest is underlying.
The traders watch These technical advances since, in most cases, the triangle patterns are associated with heightened volatility. The present structure indicates the possibility of price growth when SHIB crosses the defined boundaries above or below.
Market positioning data indicates substantial liquidity clusters around key levels. These zones could amplify price movements when breached.
The target measured out of the triangle formation indicates an upward movement to $0.00003000. This forecast would suggest about 142% gains from current levels should bullish momentum prevail. Such calculations assume pattern completion and sustained buying pressure above resistance zones.
Burn Rate Acceleration Creates Supply Dynamics
SHIB's token burn rate increased by over 201,000% within 24 hours, according to Shibburn data. Over 4.5 million of the tokens were out of circulation at this period. The surge is one of the major burns that have occurred in recent months.
The burn mechanisms lower the overall token supply by removing it permanently. This process may affect the dynamics of prices, contributing to the artificial shortage situation. Market psychology often responds positively to supply reduction initiatives, particularly in meme coin ecosystems.
