{"id":44002,"date":"2025-02-12T18:57:08","date_gmt":"2025-02-12T18:57:08","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=44002"},"modified":"2025-02-12T18:57:08","modified_gmt":"2025-02-12T18:57:08","slug":"shiba-inu-shib-rally-incoming-3-reasons-behind-the-bullish-outlook","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=44002","title":{"rendered":"Shiba Inu (SHIB) Rally Incoming? 3 Reasons Behind the Bullish Outlook"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

SHIB\u2019s TD Sequential Indicator flashes a buy signal on the weekly chart, suggesting a possible rebound.<\/span>
\nOne analyst envisioned a potential for a 2,800% rally should BTC\u2019s dominance head south.<\/p>\n

<\/a><\/span><\/h2>\n

Price Reversal in the Cards?<\/h2>\n

The second-largest meme coin in <\/span>terms of<\/span> total market capitalization performed <\/span>quite<\/span> well towards the end of 2024. However, it did not start the new year on the right foot, with its valuation gradually declining <\/span>lately<\/span>.<\/span><\/p>\n

It <\/span>tanked<\/span><\/a> to a four-month low during the crypto market crash witnessed on February 3. In the following days, the bulls managed to recover some losses, but SHIB remains deep in the red on a two-week scale.\u00a0<\/span><\/p>\n

<\/a>SHIB Price, Source: CoinGecko<\/p>\n

Nonetheless, some key factors suggest that the meme coin could <\/span>soon<\/span> restart its bull run.<\/span> According<\/span><\/a> to the X user Ali Martinez, SHIB shows signs of a potential rebound as the TD Sequential Indicator \u201cflashes a buy signal on the weekly chart.\u201d\u00a0<\/span><\/p>\n

The technical analysis tool identifies trend exhaustion points and possible price reversals in financial markets, including the crypto sector.<\/span><\/p>\n

Next on the list is the Shiba Inu burn rate, which has <\/span>exploded <\/span><\/a>by almost 400% in the last 24 hours, resulting in <\/span>almost<\/span> 16.5 million tokens sent to a null address. While the USD equivalent of the stash might be insignificant, persistent efforts in the field could make SHIB more valuable via scarcity.<\/span><\/p>\n

The total amount <\/span>burned<\/span><\/a> from the initial supply since adopting the program is over 410.7 trillion, meaning approximately 584.3 trillion tokens are currently in circulation.\u00a0<\/span><\/p>\n

Third, we will focus on SHIB\u2019s exchange <\/span>netflow,<\/span> which, <\/span>according<\/span><\/a> to CryptoQuant\u2019s data, has been mostly negative in the last 30 days. <\/span>The<\/span> development suggests a possible shift from centralized trading venues toward private wallets and could be considered bullish since it reduces the immediate selling pressure.<\/span>\u00a0<\/span><\/p>\n

Optimistic Prediction<\/span><\/h2>\n

One <\/span>of the people<\/span> forecasting that SHIB may indeed see a rapid price increase in the short term is the X user CryptoELITES.<\/span> The analyst <\/span>outlined<\/span><\/a> three sequential targets: $0.000085171, $0.000183312, and $0.000472905. The last one represents a whopping 2,800% increase from the current level.\u00a0<\/span><\/p>\n

The market observer believes that SHIB\u2019s uptrend could <\/span>be triggered<\/span> by the possible decrease in BTC\u2019s dominance.\u00a0<\/span><\/p>\n

\u201cThe technical outlook is positive. As BTC dominance decreases, SHIB will take the stage,\u201d they assumed.<\/span><\/p>\n

It is important to note that BTC\u2019s dominance has been <\/span>on the rise<\/span><\/a> in the past few years \u2013 from less than 38% in November 2022 to over 60% as of writing these lines.<\/span>\u00a0<\/span><\/p>\n

The post Shiba Inu (SHIB) Rally Incoming? 3 Reasons Behind the Bullish Outlook<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR SHIB\u2019s TD Sequential Indicator flashes a buy signal on the weekly chart, suggesting a possible rebound. One analyst envisioned a potential for a 2,800% rally should BTC\u2019s dominance head south. Price Reversal in the Cards? The second-largest meme coin in terms of total market capitalization performed quite well towards the end of 2024. However, […]<\/p>\n","protected":false},"author":0,"featured_media":44003,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-44002","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/44002"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=44002"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/44002\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/44003"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=44002"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=44002"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=44002"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}