As it started December on a positive note, the surge in Shiba Inu (SHIB) trading volume led to an increase in its burns, with over 52.3 million SHIB tokens burned, sparking optimism for a potential rally.

Shiba Inu (SHIB) price predictions were negative in November, especially when compared to Dogecoin (DOGE) and the failure of the “Uptober” promises, but its price performance currently appears to be in line with the bright future outlook until 2025, with its price up 20.97% today to return to the spotlight and optimism about this December is growing as it closed out the past months with gains of 84.81%; Shiba Inu also led the meme coin sector with a 325% increase in trading volume today to nearly $6.5 billion.

Shiba Inu Price Analysis: Will It Be Able to Rise Another Decimal by 2025?

The 400% increase in SHIB burn and its price reaching $0.00003 seems to be just the beginning according to the famous crypto analyst Oscar Ramos, who confirmed in his latest post on the X platform that the market conditions are in line with the bright outlook for SHIB, and noted that its price has maintained its support levels despite the recent market volatility.

SHIB 4-hour price chart showing a breakout of the flag pattern, Source: Binance

The aforementioned support levels formed a bullish flag pattern that was completed by today’s upward price movement, which caused the pattern to be broken in an upward direction, meaning that the next price target in the foreseeable future is $0.000035, which represents an increase of 8.76% from current levels.

However, the RSI at 80 suggests that SHIB is in overbought territory, increasing the chances of a correction. Looking at the bigger picture, Ramos believes that Dogecoin’s $22 billion market cap could mean there is plenty of room for SHIB to grow to a $10 billion market cap based on past price patterns.

For the rest of 2024, Ramos sees a decimal SHIB price rise as unlikely in the next couple of months, and it could happen in 2025. On the other hand, the path may be open for another bullish trajectory thanks to the strength of technical indicators and upcoming positive factors such as the FOMC meetings and the release of the Consumer Price Index (CPI) data.

The post Shiba Inu Coin Burns Push Its Price Above $0.00003 as Analysts Expect Another Decimal Rise by 2025