The post Is Shiba Inu Price Due for 80% Rally in April As SHIB Escapes Falling Wedge Pattern? appeared on BitcoinEthereumNews.com.

Shiba Inu price could be on the verge of an 80% rally in April 2025 after the meme coin broke out of a falling wedge pattern. This breakout hints that SHIB price may double next month, and possibly lead gains across the broader crypto market.  Shiba Inu Gears for 80% Rally After Breakout Falling Wedge Pattern  Shiba Inu price today trades at $0.0000133 after a 5% drop in 24 hours. This decline follows a massive pullback across the broader crypto market after the US PCE inflation data for February came in hotter-than-expected.  Despite this pullback, the daily price chart indicates that the second-largest meme coin is still holding on to a bullish setup. More importantly, SHIB had broken out of a falling wedge pattern and teased a reversal from a bearish trend to a bullish trend.  After the recent decline, this top meme token has retested the upper trendline of the falling wedge as support. If it avoids breaching this trendline, it could trigger a nearly 80% price gain for the meme coin to $0.000023. At this point, SHIB will have doubled in price.  To confirm the strength of this bullish breakout, the RSI needs to tip north and recover past 50 to show bullish momentum and an increase in buying activity. At press time, SHIB’s RSI stood at 48, which is a near-neutral level.  SHIB/USDT: 1-day Chart This falling wedge pattern shows the possibility that the Shiba Inu price can recover. However, for a strong uptrend, buying pressure needs to increase.  How DeFi Activity and SHIB Burn Rate Will Drive Gains  One of the top reasons why the Shiba Inu price can witness a 2x price rally in April 2025 is a spike in the burn rate. Data from Shibburn shows that in the last week of March, the…

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Filed under: News - @ March 29, 2025 3:24 am