The Shiba Inu coin, a popular meme coin, has been gaining attention from investors despite the recent downturn in the cryptocurrency market. While the broader market has been experiencing a slump, there are several factors that suggest SHIB is ready for a rally.

Firstly, technical analysis indicates a potential rebound in the SHIB price, with prominent crypto analyst Ali Martinez predicting a bullish momentum in the coming days. Additionally, the Shiba Inu burn rate has increased significantly, removing a substantial amount of SHIB from circulation, which typically leads to a surge in prices. Furthermore, the supply of SHIB in exchange wallets has decreased, signaling a bullish momentum.

Despite these positive indicators, the SHIB price has fallen in the last 24 hours, with a trading volume of $476.37 million. However, this dip in price and the lower relative strength index (RSI) may present a buying opportunity for investors, potentially leading to a surge in prices.

In conclusion, while the recent market downturn has affected SHIB, the technical analysis, burn rate, and supply reduction suggest that the meme coin is primed for a rally. Investors may want to keep a close eye on SHIB as it may be due for a comeback.