Whales and Burns Fuel SHIB's Quiet Bull Run Setup

Shiba Inu (SHIB) is showing signs of potential bullish movement as large token holders continue to withdraw significant volumes from major exchanges, signaling a strategic accumulation phase. Over the past few weeks, more than 3 trillion SHIB tokens were moved from Coinbase Prime and Binance, representing one of the largest on-chain movements in the token's recent history. These withdrawals, totaling billions in value, suggest that large investors are reducing selling pressure by pulling tokens from the open market, which could lead to a more favorable supply-demand dynamic [1].

In addition to whale activity, the ongoing SHIB burn rate has also played a crucial role in tightening the token's circulating supply. As of the latest data, SHIB’s burn rate has increased by 213% year-to-date, with over 3.014 million tokens being destroyed in a 24-hour period. This sustained destruction of supply, combined with the reduced availability of SHIB on exchanges, is reinforcing a scenario in which the token’s fundamentals are strengthening [1].

Technical analysis also supports the idea of an upcoming breakout. SHIB has recently formed a "cup-and-handle" pattern, a well-known bullish formation in technical charting. According to crypto analyst Joe Swanson, the completion of this pattern could drive SHIB’s price up by approximately 70%, potentially reaching $0.000021 in the near term. While SHIB is currently trading at $0.0000126, the pattern suggests that further upside could be on the horizon if bullish momentum continues [1].

Despite these positive indicators, SHIB remains over 63% below its all-time high from February. However, the timing of the large withdrawals and the ongoing burn activity suggests that market participants are positioning for a potential rebound. Some forecasts within the crypto community suggest that SHIB could reach $0.00006392 by 2025, with even higher price targets of $0.000321 in the longer term, based on similar historical patterns observed in the token’s past performance [1].

The accumulation of SHIB by large investors and the ongoing burn rate point to a more structured and deliberate buildup in the token's market fundamentals. While market sentiment for SHIB has been mixed in recent months, the on-chain activity and technical indicators suggest that a shift in momentum may be on the way. As the token continues to be burned and withdrawn from exchanges, the conditions are increasingly favorable for a price rebound in the coming months [1].

Source: [1] Shiba Inu Price Prediction: SHIB Price Poised For 70% Surge (https://coinpedia.org/price-analysis/shiba-inu-price-prediction-shib-price-poised-for-70-surge/)