2025-05-06 10:15:15 by CoinGape

Shiba Inu price is gearing for a 4x rally amid surging transaction volumes and the growth of the Shibarium layer 2 network as it nears a $3M milestone. If this bullish outlook holds, SHIB may outperform other meme coins and clinch multi-month highs before the end of 2025. SHIB value today remains under a bearish trajectory with a 1.6% drop in 24 hours. However, a 13% uptick in trading volumes per CoinMarketCap data suggests that some traders may be buying the dip. Shiba Inu Price Gears for 4x Surge The weekly chart for SHIB price shows that this top meme coin is at a critical juncture that may precede a strong upward trend if the bullish momentum grows strong. The potential uptrend is seen with the formation of a double-bottom pattern that often signals that the existing trend is about to shift from a bearish one to a bullish one. To confirm this double-bottom pattern, Shiba Inu price needs to create a higher high and form an ascending trendline that may push it to the neckline resistance of $0.000033. If it can overcome this resistance, SHIB may record a 4x rally from its current price to $0.000045. The AO histogram bars have flipped green, albeit remaining in the negative region, an indication that the bearish momentum is growing weak. However, a strong uptrend will occur if the indicator moves to the positive side. Meanwhile, the MACD is about to form a buy signal if it crosses above the signal line and extends the upward momentum past the zero line. SHIB/USDT: 1-Week ChartThe above bearish thesis will be invalid if the price of Shiba Inu falls below the critical support level of $0.000012. If it drops below this level, it will reach its lowest point in more than one year, and this may trigger panic selling and accelerate the downtrend. Shibarium TVL Approaches $3M Milestone as Transactions Soar The Shibarium TVL has ballooned significantly in recent weeks, and it is now approaching a critical $3M milestone, suggesting that decentralized finance (DeFi) activity in the network is blossoming. Despite the headwinds causing a weak recovery in the Shiba Inu price, the metric has surged by more than $670,000. Shibarium TVLThe growth of Shibarium’s TVL tends to coincide with a spiking SHIB burn rate. According to data from shibburn, the weekly burn rate is up by more than 350%, with more than 329 million being removed from circulation. Meanwhile, the Shiba Inu transaction volumes recently surged by nearly 300% in 24 hours from 1.77 trillion to 6.93 trillion tokens. This increase further supports the bullish Shiba Inu price prediction that the meme coin eyes a 4x rally in the near term. SHIB Transaction VolumeTherefore, as Shibarium’s TVL continues to grow, causing a spike in the burn rate and transaction volumes, it is clear that the Shiba Inu price may be on an upward trajectory. The double-bottom pattern hints that an upward recovery may push the meme coin’s value to as high as $0.000045, triggering a 4x rally. Frequently Asked Questions (FAQs) Shiba Inu price can rally 4x to $0.000045 if it completes the bullish formation seen in the double-bottom pattern. The Shibarium TVL shows a potential bullish momentum around the SHIB price. If the TVL continues to surge, this meme coin will surge. Shiba Inu transaction volumes are surging due to increased network activity. This hints towards a looming uptrend. muthoni Muthoni Mary is a seasoned crypto market analyst and writer with over three years of experience dissecting blockchain trends, price movements, and market dynamics. With a sharp eye for technical analysis and an in-depth understanding of on-chain metrics, she delivers insightful, data-driven content that helps investors navigate the fast-paced world of digital assets. Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.