Shiba Inu (SHIB) Price News & Analysis: Burn Rate Explodes, What’s Next?

TLDR

Shiba Inu (SHIB) is currently trading at around $0.00001250, up 20% from its yearly low The SHIB burn rate has surged, with recent reports showing a 3,277% increase in 24 hours Whale holdings of SHIB have decreased from 743 trillion tokens in January to 735 trillion currently Analysts predict SHIB could reach $0.0001971 by 2030, representing a potential 7,220% gain Technical analysis shows SHIB has formed a double-bottom pattern and falling wedge pattern, suggesting a possible bullish breakout

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Shiba Inu (SHIB) has been trading sideways in recent weeks, currently priced at $0.00001250, representing a 20% recovery from its lowest point this year. Despite mixed signals from whale activity and market patterns, the increasing burn rate and long-term price projections are creating optimism among SHIB supporters.

The second-largest meme coin is showing signs of potential recovery as burn initiatives gain momentum. Recent data shows the daily burn rate jumped by 65% on Monday to 17.72 million tokens, contributing to the reduction of SHIB’s circulating supply.

Even more impressive, reports indicate a 3,277% surge in burn rate over a 24-hour period, with 28.6 million SHIB tokens removed from circulation. Over the past week, more than 142.6 million tokens have been burned, reflecting a 104.28% increase in weekly burn volume.

While the burn rate rises, whale holdings continue to decline. Data from Santiment reveals that supply held by whales has decreased from 743 trillion tokens in January to 735 trillion currently. The supply held by top addresses has also dropped to 618 trillion, down from this month’s high of 619 trillion.

This whale activity suggests large holders are reducing their positions as the token price remains relatively stable.

Shiba Inu
SHIB Price

Technical Patterns Point to Potential Breakout

From a technical analysis perspective, SHIB has formed a giant double-bottom pattern at $0.00001080. This pattern, consisting of two bottoms and a neckline at $0.00003340, indicates a potential upside of over 165% from current levels.

Another bullish indicator is the formation of a falling wedge pattern, characterized by two falling and converging trendlines. This pattern typically results in a bullish breakout at the point of convergence.

The technical outlook suggests a strong bullish breakout may occur in the coming days, particularly if SHIB breaks above the key resistance level of $0.00001560, which represents the highest point reached this month.

However, this bullish view would be invalidated if the price drops below the lower boundary of the double bottom at $0.00001080. In such a scenario, the next level to watch would be the psychological threshold of $0.000010.

Community Efforts and Anti-Scam Initiatives

The SHIB community continues to play an active role in the token’s development and protection. The ShibTorch platform has been instrumental in burning efforts, with a reported 881.3 million SHIB tokens burned through this initiative alone.

Marketing lead Lucie has been vocal about the rising threat of scammers in the crypto space, urging the SHIB Army to stay informed and avoid falling for hype-driven traps. She emphasized that education is the best defense against bad actors in the cryptocurrency world.

“In the state of trenches we’re living in, education is the only real weapon,” Lucie stated, encouraging community members to “learn, research, and move with purpose” rather than seeking shortcuts.

This focus on education aligns with the team’s strategy of letting actions speak louder than words, particularly during periods of fear, uncertainty, and doubt (FUD).

Long-Term Price Projections

Looking beyond current market conditions, analysts have made bold predictions about SHIB’s future value. According to a recent report by Finder, SHIB could reach $0.0001971 by 2030 and potentially climb to $0.0008543 by 2035.

If these projections materialize, they would represent a 7,220% gain from today’s price levels. Some experts are even more bullish about the near term, with Bitget CEO Gracy Chen predicting SHIB could hit $0.0000600 by the end of 2025.

Ronen Cojocaru of 8081 Inc has an even more optimistic view, projecting a price of $0.0000743 by year-end, which would imply over 500% upside from current levels.

These positive outlooks are driven by SHIB’s expanding ecosystem, including developments in Shibarium, DeFi integration, and its growing community base.

However, not all analysts share this optimism. John Hawkins from the University of Canberra warns that SHIB could drop to $0.00001, citing fading hype around meme coins and comparing the trend to the decline seen in the NFT market.

The high circulating supply of SHIB, which exceeds 589 trillion tokens, presents a challenge for substantial price increases unless large amounts are burned or utility increases dramatically.

About 48% of experts consider SHIB overvalued at present, while 44% believe it’s fairly priced. Nevertheless, SHIB’s listing on major exchanges, its large and active community, and ongoing ecosystem expansion continue to fuel positive sentiment among many investors and analysts.

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