Some analysts predict that the price of Shiba Inu (SHIB) could soar thanks to technical patterns and increased token burns. 🚀 However, the slowdown in the Shibarium network’s progress could limit the meme coin’s growth.

Despite its decline since March, SHIB could erase two zeros from its price if it breaks out of a certain triangle shape on the chart. But for that to happen, the market cap would have to reach almost $800 billion, which is unlikely.

On the other hand, metrics show that SHIB’s outflow from exchanges exceeds its inflow, which could reduce selling pressure. Also, token burns have increased by 563% in the last week, which could make the coin more valuable over time.

However, the stagnation in Shibarium’s development could negatively affect the price of SHIB. The network’s daily transactions have fallen below 5,000, which could be a worrying sign for investors.