The Shiba Inu coin, a popular meme coin, has been on the radar of investors lately, especially amid the recent downturn in the broader crypto market. Despite the recent dip in its price, there are several factors that could trigger a rally in the coming days.

Firstly, technical analysis suggests that the SHIB price is poised for a rebound. A recent analysis by prominent crypto market analyst Ali Martinez indicates that the Shiba Inu coin is likely to witness a positive momentum in the coming days. Martinez highlighted a "buy signal" on SHIB's daily chart, which has bolstered market confidence.

Secondly, the Shiba Inu burn rate has increased significantly over the past few days, removing a massive amount of SHIB from the supply. This burning move is usually seen as a positive move, as it typically decreases the overall supply, leading to a surge in the crypto prices. Although the burn rate noted a slump of 62.5% in the last 24 hours, the weekly burn rate skyrocketed 667.17% to 398.53 million SHIB, indicating the increasing participation of the SHIB community in decreasing the overall supply.

Lastly, a recent report from on-chain analytics firm Santiment showed that Shiba Inu, Chainlink, and Ethereum have noted significant dips in supply from the top 10 exchange wallets. This decrease in exchange reserves supply signals a bullish momentum for the cryptos. Considering these positive indicators, market experts anticipate a potential surge in the SHIB price.

Despite these positive signs, the SHIB price fell 4.69% to $0.00002077, while its trading volume rose 42% to $476.37 million in the last 24 hours. The Shiba Inu Open Interest also noted a slump of 8.90% to $75.5 million, and the SHIB's relative strength index (RSI) stood around 36, reflecting the ongoing selling pressure over the meme coin. However, these dips could be seen as an opportunity for investors to buy at a lower price, potentially bumping up the prices.