Shiba Inu’s Wild Ride: Will It Soar 175% or Just Bark? 🐕💸

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Ah, the Shiba Inu! A creature of whimsy and folly, much like the investors who cling to its every rise and fall. As the price tumbles down like a drunken sailor, fears loom large, especially with the specter of Donald Trump’s Liberation Day tariffs casting a long shadow. Five days of relentless decline have stripped away the gains of yestermorn, dragging the coin down to its March 14 depths. Yet, amidst this chaos, the fundamentals whisper of hope, hinting at a potential surge that could make even the most stoic investor chuckle.

Shiba Inu Price Could Rise as Holders Reach 1.5 Million

Despite the coin’s plummet from $0.00003341 to a meager $0.00001200, the number of Shiba Inu holders continues to swell like a balloon at a child’s birthday party. 🎈 With over 1.5 million holders now, it stands as a titan among meme coins, a veritable colossus of canine currency!

This remarkable growth is no mere accident; it’s a testament to Shiba Inu’s robust fundamentals. Highly deflationary, the circulating supply has dwindled from a staggering 999 trillion to a mere 584 trillion. Who knew that scarcity could be so fashionable?

And what’s this? A 750% spike in the SHIB burn rate? On Monday, it soared to 17.1 million! Just last week, two brave souls incinerated 1 billion SHIB tokens in a fiery display of commitment. 🔥 Such acts of valor make the remaining tokens rarer than a unicorn at a dog park!

But wait, there’s more! Shiba Inu has unveiled Shibarium, a layer-2 network that’s approaching 1 billion transactions. The number of addresses has skyrocketed to 193.5 million, and the total value locked in Shibarium has surged by over 20% in just 30 days. Talk about a growth spurt! 📈

SHIB Price Signal Points to a Surge

Now, let’s take a gander at the daily chart, which paints a rather dismal portrait of the SHIB price. Once a proud peak at $0.00003341 in December, it has now plummeted over 63%. Attempts to rise have met with fierce resistance, the latest being at $0.00001565, where it formed a shooting star candlestick—a classic bearish omen. 🌠

Yet, upon closer inspection, one might discern bullish patterns emerging from the gloom. A falling wedge has formed between November and mid-March, hinting at a potential recovery. SHIB has nudged above the upper side of this wedge, reaching a high of $0.00001566. The recent drop? Just a cheeky retest of a key level, as if the asset is saying, “Hey, remember me?”

Most intriguingly, the Shiba Inu price has clung to a key level since last July, forming a quadruple bottom with a neckline at $0.00003340. It’s like a stubborn dog refusing to leave its favorite spot! 🐶

Thus, the coin may very well bounce back, as optimistic bulls set their sights on last December’s high of $0.00003340—a staggering 175% above the current level. But beware! A drop below the crucial support at $0.00001080 would shatter the bullish dreams of Shiba Inu enthusiasts. 🥴

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2025-03-31 15:41