Shiba Inu ($SHIB) has become a hot topic in the cryptocurrency market since its launch in 2020, especially its large community and innovative mechanisms such as token burning, making it a significant player in the meme currency field. participants. Recently, SHIB prices have risen and market sentiment has been bullish, triggering widespread speculation about its future price trend.

1. **Price Update**: SHIB price has increased by 7.19% in the past 24 hours and is currently trading at $0.14501. The market is showing a positive trend and is expected to test the $0.14700 resistance level in the coming week.

2. **Market Sentiment**: The current market sentiment towards SHIB is bullish, with the Fear & Greed Index showing 71 (greed), indicating that market participants are generally optimistic.

3. **Volume and Volatility**: SHIB has seen an increase in trading volume and market volatility is at 6.06%, which may provide traders with an opportunity to enter the market.

4. **Technical Analysis**: From a technical analysis perspective, SHIB price is consolidating around $0.14384, which if it can sustain this level, may provide a strong buy signal with the potential for a retest and breakout of 0.14700 USD resistance.

5. **Risk Management**: Given the volatility of SHIB, it is recommended to set a stop loss below $0.13652 to protect against downside risk.

6. **Destruction Mechanism**: SHIB’s destruction mechanism is its key strategy for managing token supply and an important factor in attracting investors. As of early 2024, more than 410 trillion SHIB tokens (approximately 41% of the original supply) have been burned, and the total value of these burns has exceeded $3.9 billion.

7. **Shibarium Activity**: With the increase in Shibarium activity, trading activity in the SHIB ecosystem increased by 30%, with daily trading volume reaching over $2 million.

8. **Long-term Forecast**: Some analysts predict that SHIB’s price may reach $0.198 by December 2024, while it may trade between $1.32 and $1.47 by 2030, indicating a very positive growth outlook.