Shiba Inu (SHIB) celebrates its fifth anniversary with explosive on-chain activity and a powerful technical setup pointing toward a 70% upside move.
By Parth Dubey
Editor Hamza Tariq
Updated
2 mins read
As Shiba Inu SHIB $0.000012 24h volatility: 4.7% Market cap: $7.14 B Vol. 24h: $298.12 M marks its fifth anniversary since launch in August 2020, the meme coin is showing signs of a potential breakout. Analysis suggests that the meme coin may be preparing for a bullish reversal, eyeing a 70% upside move.
SHIB turns 5 tomorrow.
Still dreaming big.Thanks for being on this wild ride with us, ShibArmy. ❤️#SHIBturns5 pic.twitter.com/I5OvlA7LFm
— Shib (@Shibtoken) July 31, 2025
In the past 24 hours, the SHIB burn rate has exploded by over 2,200%, with more than 3,097,114 tokens permanently removed from circulation. This brings the total number of SHIB tokens burned to a staggering 410.75 trillion, as per the data from Shibburn.
Such a rapid acceleration in burn activity has historically preceded price appreciation as for the same demand, the amount of SHIB available is lesser.
Shiba Inu is currently trading at $0.00001204, nearly 8% down in the past day and struggling to break above the recent high of $0.00001316.
Market analyst Crypto Patel recently suggested that the next major crypto rally will likely emerge from within the Ethereum ETH $3 565 24h volatility: 5.4% Market cap: $429.00 B Vol. 24h: $42.34 B ecosystem. In his view, Shiba Inu, alongside projects like PENDLE PENDLE $3.96 24h volatility: 7.2% Market cap: $656.14 M Vol. 24h: $130.93 M and PYTH PYTH $0.11 24h volatility: 6.3% Market cap: $639.67 M Vol. 24h: $36.50 M , is poised to lead this movement.
The Next Crypto rally might start with Ethereum and its ecosystem.
And these 10 projects could lead the way.Most are still way below their all-time high values but their growth potential looks strong.
Top watchlist:$SHIB $SKY $ENS $PENDLE $PYTH $DEXE $MORPHO $ETHFI #1INCH… pic.twitter.com/4w9vBoK1wS
— Crypto Patel (@CryptoPatel) July 30, 2025
Given SHIB’s deep integration with Ethereum, the meme coin could substantially benefit from the ETH community as well as its own massive following.
As per the chart below, SHIB’s daily chart reveals the completion of a classic cup-and-handle formation, a bullish continuation pattern.
While the price was initially rejected at the upper rim near $0.0000175, the handle has formed as a falling wedge, which is usually considered a bullish reversal signal.
The wedge is currently compressing near a strong support level at $0.0000100, and a breakout above the upper boundary of the wedge could spark a substantial rally.
Shiba Inu Cup-and-Handle Formation | Source: TradingView
On the other hand, the MACD histogram is approaching a bullish crossover with the RSI cooling to 36.73. The Chaikin Money Flow (CMF) reading at zero implies neutral capital flows and the BoP shows signs of waning seller dominance in the short term.
If SHIB can decisively break above the immediate resistance zone between $0.0000131 and $0.0000140, the next targets lie at $0.0000175 and $0.0000200.
A push to the $0.0000220 level would confirm a full breakout from the cup-and-handle pattern, marking a potential 70% move from current prices, making SHIB one of the best meme coins to buy.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
