- Crypto analyst Javon Marks believes Shiba Inu could be gearing up for a major breakout in a recent post on X.
- He shared a chart highlighting what he sees as an Inverse Head & Shoulders pattern, suggesting that SHIB might be on track for a 503% surge.
Shiba Inu (SHIB) might be getting ready up for a massive breakout, according to crypto analyst Jasom Marks, who shared his outlook in a recent post on X. “As $SHIB continues to hold in a huge Inverse Head & Shoulders Pattern and in the last phases of it, these prices can be GETTING READY TO RUN,” Marks wrote.
It could consist of an over 503% upside to our first target at $0.000081!
Marks referenced an earlier post from April 22, where he pointed out the same bullish formation:
Shiba Inu is still holding in what looks to be a massive Inverse Head & Shoulders pattern. As prices look to be in the final shoulder of this pattern, a surge can be looming and it could be towards our larger breakout target — OVER +512% AWAY at $0.000081.
While the pattern is purely technical, the surrounding market data adds weight to the possibility of a strong move. SHIB’s derivatives trading volume has seen a 4.88% bump, reaching $123.81 million, a sign that traders are actively positioning themselves for volatility. At the same time, Open Interest, which tracks the total number of outstanding SHIB contracts, has climbed by 4.20%, now sitting at $163.64 million. This increase typically signals growing market interest and momentum.
Furthermore, SHIB’s burn rate has skyrocketed. According to data from Shibburn, more than 39.49 million SHIB tokens were permanently removed from circulation in the last 24 hours alone, a 2408.42% increase. The burn mechanism helps reduce supply over time, potentially increasing the value of the remaining tokens if demand continues to rise. With SHIB now sitting in what Marks believes is the “final shoulder” of a bullish formation and key on-chain metrics turning upward, traders are watching closely.
What’s Fueling the Hype?
As mentioned in our earlier coverage, the Shiba Inu development team is reportedly working on a powerful new token burn mechanism—one that could potentially burn trillions of SHIB every year. Historically, large-scale burns have had a noticeable impact on SHIB’s price. One of the most well-known examples was in 2021, when developers sent 500 trillion SHIB to Ethereum co-founder Vitalik Buterin. He ended up burning 410 trillion of those tokens, which helped fuel SHIB’s rise to an all-time high of $0.00008616 during that bull run.
The Shibarium network is preparing for a technical upgrade aimed at boosting decentralization. Once implemented, developers and users will be able to run their own Shibarium nodes. That means the network will remain operational even if public endpoints go offline, laying the groundwork for a more resilient and truly decentralized ecosystem.
On the governance side, the team has also introduced ShibDAO, a new platform designed to give the community more control over the project’s direction. Shibizens, members of the Shiba Inu community, will be able to vote on key decisions using SHIB, BONE, LEASH, or TREAT tokens. It’s a move that signals a clear shift away from closed-door decisions, putting real power in the hands of the community.
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