{"id":53961,"date":"2025-03-24T12:43:25","date_gmt":"2025-03-24T12:43:25","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=53961"},"modified":"2025-03-24T12:43:25","modified_gmt":"2025-03-24T12:43:25","slug":"3-reasons-why-the-shiba-inu-shib-price-might-rally-soon","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=53961","title":{"rendered":"3 Reasons Why the Shiba Inu (SHIB) Price Might Rally Soon"},"content":{"rendered":"

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

SHIB\u2019s price has recorded only a 1% daily increase, but some essential factors hint that the resurgence has yet to start.<\/span>
\nThe burn rate has skyrocketed by over 8,000%, while the weekly exchange netflow signals a reduced immediate selling pressure.<\/p>\n

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

New Bull Run Incoming?<\/span><\/h2>\n

The cryptocurrency market has <\/span>witnessed a substantial revival<\/span> in the past 24 hours, with Bitcoin (BTC) rising<\/a> above $87,000 and Ethereum (ETH) challenging $2,100. However, some leading digital assets have not followed the overall green path.<\/span><\/p>\n

The second-largest meme coin \u2013 Shiba Inu (SHIB) \u2013 is among the examples, with its price recording a mere 1% increase on a daily scale. <\/span>In fact,<\/span> it remains in red territory <\/span>on a weekly basis<\/span>, currently trading at roughly $0.00001312 (per CoinGecko\u2019s data).\u00a0<\/span><\/p>\n

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

Several factors, though, suggest that SHIB might soon catch up with the\u00a0<\/span>top performers. The meme coin\u2019s burn rate, for instance, has\u00a0exploded<\/a> by over 8,000% in the last 24 hours, resulting in more than one billion tokens being\u00a0<\/span>sent to a null address.<\/span><\/p>\n

The mechanism\u2019s ultimate goal is to reduce Shiba Inu\u2019s tremendous circulating supply and <\/span>potentially<\/span> make the coin more valuable in time via scarcity.<\/span> The program was introduced<\/span> approximately three years ago, and since then, the team and community have burned over 410.7 trillion SHIB, leaving 584.3 trillion in circulation.\u00a0<\/span><\/p>\n

The next bullish element on the list is Shiba Inu\u2019s exchange <\/span>netflow<\/span>. CryptoQuant\u2019s data <\/span>shows<\/span><\/a> that outflows have surpassed inflows in the last week, signaling a possible shift from centralized exchanges to self-custody methods. <\/span>This<\/span>, in turn, reduces the immediate selling pressure.\u00a0<\/span><\/p>\n

SHIB\u2019s potential rally could also be triggered by Shibarium\u2019s further advancement.<\/span> The layer-2 blockchain solution has recently noted a significant resurgence, <\/span>processing<\/span><\/a> multi-million daily transactions and <\/span>blasting<\/span><\/a> through yet another major milestone.\u00a0<\/span><\/p>\n

The protocol aims to foster the development of the Shiba Inu ecosystem by lowering transaction costs, improving speed, and enhancing scalability. <\/span>According to some industry participants, Shibarium\u2019s progress could <\/span>indeed<\/span> fuel an impressive rally for the underlying token.<\/span> The popular analyst Davinci Jeremie, who is known for his pro-BTC stance, recently <\/span>said<\/span><\/a>:<\/span><\/p>\n

\u201cI like Shiba Inu, as you know, and\u00a0I think it will do relatively well in this cycle, but it may not go as high as you expect. I think Shiba Inu has a lot of utility now that they have Shibarium, and basically, it\u2019s a chain that you can\u00a0<\/span>actually<\/span> run all kinds of applications.<\/span><\/p>\n

However, nobody is using it, and there are no applications for using your tokens on Shibarium yet. <\/span>If they <\/span>get that solved<\/span>, Shiba Inu will go to the moon.\u201d<\/span><\/p>\n

Bonus: Potential Partnerships<\/span><\/h2>\n

Key collaborations between Shiba Inu and well-known entities can also trigger upward pressure on the meme coin\u2019s price. The crypto community recently <\/span>noted<\/span><\/a> the disappearance of Shytoshi Kusama (SHIB\u2019s former lead developer) from X, but LUCIE (Shibarium\u2019s marketing strategist) explained the leader has become an ambassador of the project and is \u201cdoing <\/span>exactly<\/span>\u00a0what he announced he would.\u201d<\/span><\/p>\n

Several X users appreciated the comment, expecting \u201cgroundbreaking partnerships\u201d for the meme coin project once Kusama breaks their silence.\u00a0<\/span><\/p>\n

It is <\/span>important<\/span> to mention that Shiba Inu <\/span>has already<\/span> inked<\/span><\/a> an important<\/span> deal in February of this year. Back then, the team behind the project shook hands with the Ministry of Energy and Infrastructure of the United Arab Emirates, while SHIB\u2019s price charted substantial gains shortly after.<\/span><\/p>\n

The post 3 Reasons Why the Shiba Inu (SHIB) Price Might Rally Soon<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR SHIB\u2019s price has recorded only a 1% daily increase, but some essential factors hint that the resurgence has yet to start. The burn rate has skyrocketed by over 8,000%, while the weekly exchange netflow signals a reduced immediate selling pressure. New Bull Run Incoming? The cryptocurrency market has witnessed a substantial revival in the […]<\/p>\n","protected":false},"author":0,"featured_media":53962,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-53961","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\/53961"}],"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=53961"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/53961\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/53962"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=53961"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=53961"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=53961"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}