According to CryptoPotato, analyst Ali Martinez predicts that the price of Shiba Inu may rise sharply due to positive chart patterns. In addition, the destruction plan of SHIB and the continuous improvement of Shibarium also support this prediction. Shiba Inu has risen by 5% in the past 24 hours.

Ali Martinez further stated that he has placed a buy order at the current price and expects the price to rise by 300% to approximately $0.000072323.

Other analysts predicting a bright future for the meme coin include Rekt Capital and crypto content creator Jake Gagain. The former predicts a triple-digit price increase, while the latter insists that “downplaying” Shiba Inu “was a major mistake.” Two key factors driving SHIB’s gains in the short term are the asset’s burn schedule and the development of Shibarium. On May 1, the burn rate surged 90%, while a total of nearly 1.7 billion tokens were destroyed in April. The ultimate goal of the burn schedule is to reduce the Shiba Inu’s huge circulating supply, making it more scarce and potentially more valuable over time. Shibarium has also made great progress, with the asset’s second-layer scaling solution undergoing a major upgrade last week and another upgrade scheduled for this week. These improvements are designed to improve the user experience, enable faster block processing times, and empower the developer and innovator community.