Yesterday I saw that the SHIB KNIGHT analyst shared a pretty interesting chart about Shiba Inu. The guy says SHIB is ready to take off, and honestly the numbers on the chart look decent. The token was hovering around $0.00000641 against Tether when he posted, with a 1.42% gain for the day. What caught my attention was that after dropping sharply below $0.00000550, SHIB bounced back and started forming those higher lows we all look for. SHIB KNIGHT drew an upward arrow projecting a move toward $0.00000750 or $0.00000800.

Besides the technicals, on-chain data is showing something interesting. Recently there was a spike in token burns, with nearly 839,000 SHIB removed from circulation in a single period. It’s not the biggest figure we’ve seen, but combined with everything else, the total burned supply is now around 410 trillion tokens, which is approximately 41% of the original max. For some, this reinforces the deflationary narrative.

Another analyst, Vuori Trading, commented that SHIB could be in the final accumulation phase. According to his analysis, the price might be discouraging now but that could be exactly what we need before the move. Vuori Trading has a target of $0.00014, which would be a 22x jump from the lows. I don’t know if it will go that far, but between what SHIB KNIGHT says with the charts and these burn data, some people see potential here. Everything will depend on whether the overall market behaves well and if the sustained buying pressure we need arrives.