The meme coin Shiba Inu (SHIB) is on the verge of a potential fourfold price increase – possibly climbing as high as $0.000045. This bullish outlook is driven by a sharp rise in network activity within Shibarium, whose total value locked (TVL) is rapidly approaching the $3 million mark. Over the past 24 hours alone, SHIB’s transaction volume has surged by a staggering 300%, signaling increased trader interest and a possible trend reversal.
🔹 Bullish Pattern Emerges: Technicals Point to Upside
Although SHIB’s price dipped 2.7% in the last 24 hours, trading volumes jumped 15%, suggesting that many investors are buying the dip. On the weekly chart, a bullish "double bottom" pattern is beginning to form – a classic signal of a potential reversal from a bearish to a bullish trend.
If SHIB breaks through the critical resistance at $0.000033, it could pave the way to the target of $0.000045 – representing a 4x increase from its current price levels. Technical indicators such as the Awesome Oscillator (AO) are showing weakening bearish momentum, and the MACD is nearing a bullish crossover, signaling a possible buying opportunity.
🔹 Key Support Level to Watch
Investors should closely monitor the $0.000012 support level. A breakdown below this threshold could trigger panic selling, pushing SHIB to its lowest price point in over a year.
🔹 Shibarium's DeFi Ecosystem Gaining Traction
Shibarium – the foundation of SHIB’s decentralized finance (DeFi) operations – is seeing explosive growth. Its TVL has increased by more than $670,000 in a short period and is now nearing the $3 million milestone. This indicates strong developer and community engagement within the ecosystem.
🔹 Token Burns and Transactions Skyrocket
The token burn rate has also accelerated in tandem with Shibarium’s growth. Over 329 million SHIB tokens were removed from circulation in a single week, marking a 350% increase in the burn rate. Simultaneously, daily SHIB transaction volumes soared from 1.77 trillion to 6.93 trillion tokens.
📈 Summary: SHIB on Track for a Major Price Rally
All key indicators – both technical and fundamental – point to a major bullish breakout for Shiba Inu. If the double bottom pattern confirms and the growing momentum in the Shibarium network continues, SHIB could surge toward the $0.000045 level in the near future.
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