Shiba Inu (SHIB) is poised for a massive surge of 189%, shaking the cryptocurrency world!

As one of the hottest meme coins, Shiba Inu has been gaining attention in the cryptocurrency market, and analysts have detected bullish signs. The price trend of Shiba Inu is exhilarating and may be laying the groundwork for a significant upward movement.

While its price movements differ from other altcoins and meme coins, it may currently be preparing for a major breakthrough.

The daily chart for Shiba Inu (SHIB) shows an elliptical trajectory, with its highs gradually rising. For over a month, the price has hovered around $0.000024, which may indicate an accumulation phase before a large-scale upward trend arrives.

At the time of writing this article, the trading price of SHIB is approximately $0.00002755, having experienced an 11.20% correction over the past 7 days. Its next expected target is $0.0000702, suggesting a potential upside of 189.60%.

The long-term expansion of the token largely follows the changes in the Shiba Inu ecosystem. The success of this project depends more on its ecosystem and partnerships than merely on token burning.

The Shibarium, a Layer 2 blockchain network created specifically for Shiba Inu, has become a key component of this strategy. By collecting gas fees, it has helped to burn nearly 56 billion SHIB tokens, thereby controlling the supply. Its dedicated burn portal has also permanently removed over 600 million SHIB from circulation.