Shiba Inu $SHIB has been trading within a tight consolidation range in recent weeks, reflecting the broader market's cautious sentiment. However, key indicators suggest that the second-largest meme coin could be gearing up for a bullish breakout.
One significant factor is the rising SHIB burn rate, which is steadily reducing the token's circulating supply. Additionally, the number of SHIB tokens held on exchanges has seen a sharp decline, signaling that profit-taking may have subsided as investors adopt a long-term holding strategy.
From a technical perspective, SHIB has maintained its position above the 200-day moving average (MA) and a rising trendline since September 2024, indicating solid support levels. Although the price is currently struggling to break through the $0.000025 to $0.000030 resistance zone, these technical patterns point to bullish momentum.
If Shiba Inu can overcome this resistance, it may retest its December highs of $0.000033. A breakout above this level could pave the way for further gains, strengthening the narrative of SHIB’s resurgence in 2025.
