Shiba Inu (SHIB) Gains 15% This Week: What Are the Future Prospects?
Shiba Inu (SHIB) has surged by 15%, reawakening interest in the meme coin sector. Analysts speculate on potential future price movements.
The start of 2026 has brought favorable news for the cryptocurrency market, especially within the meme coin sector.
Shiba Inu (SHIB) has increased by 15% in the past week, raising questions about the sustainability of this rally and its potential price targets.
Future Gains Possible?
Recently, the so-called “Dogecoin killer” was on the verge of eliminating a zero from its price, approaching approximately $0.00000935, the highest level since mid-November according to CoinGecko.
SHIB Price, Source: CoinGecko
This surge coincides with a revival in the meme coin market, whose total market cap has exceeded $50 billion again. Additionally, the reactivation of the burning program, which saw almost 195 million tokens burned last week—up 531% from the previous week—has likely supported SHIB’s price growth. This mechanism, initiated in 2022, aims to lower the overall supply of the meme coin, thus enhancing SHIB’s value over time. Currently, just over 585 trillion coins are in circulation following the elimination of over 410 trillion tokens over the past few years.
SHIB Supply, Source: Shibburn.com
Recent optimism has led analysts to predict continued price increases for SHIB. For instance, a user named JAVON MARKS believes SHIB might aim for a 246% increase towards the $0.000032 mark. Meanwhile, CryptoPulse suggests that if the upward trend persists, prices could reach between $0.0000100 and $0.0000112. However, they caution that closing below $0.0000075 could jeopardize the bullish outlook.
X user, Alice Crypto, has also expressed that SHIB has already broken out successfully with “good volume,” predicting an additional 70% rise.
Potential Market Corrections Ahead?
Despite recent gains, some indicators show that SHIB is not completely out of danger. The number of coins held in exchanges has risen lately, suggesting a likelihood of increased selling pressure.
SHIB Exchange Reserves, Source: CryptoQuant
Moreover, the asset’s Relative Strength Index (RSI) is nearing the bearish 70 threshold. Such signals often indicate potential reversals in price trends, as readings above this mark imply an overbought condition.
SHIB RSI, Source: CryptoWaves
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For further insights, explore related articles such as DOGE, SHIB, PEPE: Is Meme Coin Frenzy Back?.
