Shiba Inu eyes 142% breakout as triangle pattern tightens

Shiba Inu (SHIB) is currently trading around $0.00001223, tightly positioned within a symmetrical triangle pattern. Analysts suggest that a breakout above $0.00001400 could trigger a 142% rally, pushing the price toward $0.00003000.

In the last 24 hours, SHIB’s burn rate surged over 201,000%, removing 4.5 million tokens from circulation. Such burns reduce the overall supply and can trigger bullish sentiment in speculative markets, particularly within meme coin ecosystems.

The triangle pattern shows repeated tests of resistance and support levels at $0.00001400 and $0.00001100, respectively. This price compression typically precedes sharp directional moves, often favoring the trend that gains momentum.

Data from Bybit reveals that nearly 3 trillion SHIB tokens are held on user accounts, underlining strong institutional and retail interest. This liquidity concentration could amplify moves once key levels are breached.

With burn mechanics accelerating, bullish chart structures, and liquidity pools building, SHIB could be gearing up for a significant volatility event. If buyers dominate, the projected move to $0.00003000 remains a strong possibility.