Opinion: Shiba Inu (SHIB) Price Falls But Analysts Predict Possible Bull Trend

Shiba Inu (SHIB) has experienced price declines recently, but analysts are predicting a potential bull trend due to a test of key resistance levels, CryptoPotato reports. Optimism about the rebound is supported by massive outflows from the exchange and advancements in its L2 scaling solutions. Despite a brief recovery at the beginning of the week, Shiba Inu (SHIB) price is back in the red zone. However, many analysts believe that a bull market will soon replace the negative trend. For example, well-known user Rekt Capital pointed out that SHIB’s current price has reached levels seen in early 2022. At the time, the asset was denied further growth, but things may be different this time. Rekt Capital predicts that if the coin is able to overcome important resistance zones, the price could grow by triple digits. Another important factor that signals that valuations may be about to rebound is SHIB’s net exchange inflows. CryptoQuant revealed that Shiba Inu outflows from the exchange have increased significantly in the past week. The shift from centralized entities to a self-custody method can be viewed as bullish as it reduces immediate selling pressure. Other factors that could have a positive impact on SHIB's price include its burn rate and the development of Shibarium, a second-tier scaling solution.