#MarketCorrectionBuyOrHODL đ¶ Shiba Inu to the Moon: Can SHIB Surge to 1000%?
Shiba Inu (SHIB) has captured attention with a 178.2% yearly price increase, maintaining support at $0.00003. Analysts are closely watching an ascending triangle pattern that hints at a potential breakout if SHIB can surpass its $0.000033 resistance. The word on the street points to $0.00005 as being SHIBâs next target.
The SHIB community remains hopeful, with some die-hard fans predicting a rally past $1 this cycle. A viral post on X (formerly Twitter) by SHIB Mortal, which garnered nearly 50,000 views, 1,000 likes, and more than 200 reposts, exemplifies this bullish sentiment. Supporting the momentum, whale activity surged, with 2.79 trillion SHIBâworth $76.48 millionâtraded in just 24 hours.
SHIBâs 7-day price movement trading sideways from a dip this week with data from CoinGecko platform
From a technical perspective, SHIB finds stability from the 50-day Exponential Moving Average (EMA) at $0.00002357, despite recent market volatility and a dip in trading volumes to $2.33 billion.
Shibarium, Shiba Inuâs Layer-2 blockchain, continues to be a key driver of growth. With 600 million transactions, 2 million wallets, and $6 million in Total Value Locked (TVL), the ecosystem showcases expanding adoption and utility. Adding to the optimism, a 1,068% spike in SHIBâs burn rate has further reduced token supply, potentially applying upward price pressure.
At the same time, JetBolt (JBOLT) is carving out its own space in the crypto market. Equipped with zero-gas technology and a highly successful presale, JetBolt has emerged as a standout project, capturing significant attention as the bull run looms.