SHIB Price Jumps 2.8% After 27M Burned on April 24 – Is a Bullish Breakout Coming?

Shiba Inu has again captured the crypto community’s attention with a focus on its price movements. This follows technical signs and significant developments that indicate robust performance. At the current SHIB price of $0.00001304, its market movements are drawing interest from both experienced analysts and casual investors. Notably, a significant increase in token burn activity and a bullish falling wedge pattern suggest that the token may be entering a stronger price phase. Predictions remain speculative, but the underlying data hints at a compelling outlook.

Just yesterday, major Shiba Inu news came that the burn rate has surged by over 1300%, with more than 27 million tokens removed from circulation. Meanwhile, analyst ALLINCRYPTO identified a classic falling wedge pattern on the Shiba Inu price charts. Such formations often signal bullish reversals. This SHIB news coincides with a broader market rally. BTC recently surged to near $94,000, and altcoins also trended upward. Together, these signals create cautious optimism based on observable trends impacting the asset’s value.

Are SHIB Chart Patterns Turning Bullish?

Recent Shiba Inu news indicates that its price movement has formed a distinct falling wedge pattern over the past few months. Technical analysis considers this configuration a bullish signal. The falling wedge shows converging trendlines, where the slope of the upper line (resistance) is steeper than the lower line (support). Analyst ALLINCRYPTO suggests that this formation points to a potentially imminent trend reversal, possibly concluding the lengthy downtrend that began late in 2023.

Shiba Inu $SHIB Upside expected, falling wedge likely resulting in the pullback being reversed ⏰ pic.twitter.com/4iT6Kpvq9V

— ALLINCRYPTO (@RealAllinCrypto) April 23, 2025

This falling wedge pattern holds particular significance because it appears on a broader timeframe, suggesting the next price move could be substantial. Historically, breakouts from such wedges often lead to sustained price increases for the cryptocurrency. Enhanced trading volume and broader market momentum improve SHIB’s technical setup and the potential Shiba Inu price trajectory.

How is the Exploding SHIB Burn Rate Impacting Price?

Recent SHIB news supporting the bullish outlook involves its strikingly high burn rate. Over 27 million SHIB disappeared in 24 hours, marking a surge of more than 1300%. Such a substantial drop acts as a fundamental catalyst for SHIB price support. These burns, often initiated through community-driven mechanisms or strategic projects, send tokens to unspendable wallets, effectively removing them from the market.

HOURLY SHIB UPDATE$SHIB Price: $0.00001363 (1hr -0.12% ▼ | 24hr 2.85% ▲ )
Market Cap: $8,034,398,934 (2.86% ▲)
Total Supply: 589,252,032,076,815

TOKENS BURNT
Past hour: 32,701 (4 transactions)
Past 24Hrs: 27,204,090 (1328.82% ▲)
Past 7 Days: 97,926,181 (-26.18% ▼)

— Shibburn (@shibburn) April 23, 2025

Burning tokens serves as a strategic move to boost scarcity, which, in theory, can push the value higher. With the total SHIB burned now surpassing 410 trillion, the deflationary impact becomes more significant. A reduced circulating supply, alongside potentially rising demand during a broader bull market, may favor upward pressure on the SHIB price due to supply dynamics.

Is Market Sentiment Lifting Shiba Inu Price?

Aside from patterns and supply, recent SHIB news highlights broader market sentiment impacting momentum. The current altcoin surge, which pushed Bitcoin to nearly $94,000, helped lift SHIB along with other digital assets. SHIB gained almost 10% in value last week, boosting hopes for further price increases in the near future.

This returning investor interest is critical, as sentiment often bolsters SHIB price moves. Renewed bullishness draws strength from positive social media activity, increased trading, and aligned technical and fundamental indicators. These factors come together to create an ideal environment where SHIB can grow if momentum continues.

What’s the Outlook for SHIB Price Amid Recent News?

While recent Shiba Inu news around developments is positive, keeping a balanced perspective remains essential. Chart indicators such as the falling wedge offer historical context but are not perfect tools. Similarly, burn events, impactful as they are, require consistency to have a lasting impact on the price. Investors should be cautious about overestimating short-term moves driven only by hype or speculative excitement.

Nonetheless, several bullish indicators are converging, presenting SHIB with a rare alignment. Strong chart patterns, decreasing supply, and favorable market conditions place the SHIB price in a potentially advantageous position. Whether this results in sustained growth remains to be seen. However, the current landscape provides a solid foundation for further analysis and cautious optimism.