Shiba Inu (SHIB) has experienced a significant decrease in price, reaching its lowest level since September 2024. This decline aligns with the overall weakness seen in the crypto industry, including other meme coins such as Dogecoin, Pepe, and Floki. However, there are three potential catalysts that could drive the price of Shiba Inu higher. Firstly, the burn rate of the coin has increased substantially in recent days. Secondly, the Shiba Inu price is considered a bargain according to the MVRV-Z score. Lastly, the technical analysis shows key support levels and bullish indicators, suggesting a possible surge in price. The next target to watch is the December high of $0.00003325, representing a potential increase of 155%.



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