Shiba Inu's price jumped by 9% this week after weeks of decline, with analysts predicting further rallies.
SHIB KNIGHT, a crypto trader, noted the token's breakthrough of a key resistance level, suggesting increased accumulation could drive prices higher.
Xanrox, a TradingView analyst, earlier forecasted a bullish trend, emphasizing the importance of seizing current buying opportunities.
Other users, JAVON MARKS and Ali, offered varying predictions, with JAVON MARKS foreseeing a triple-digit increase and Ali suggesting a more modest 40% surge.
Positive factors for SHIB include a burning program and advancements in Shibarium, with recent reports showing a significant increase in burn rate and total transactions.