Price Analysis

SHIB Coin Price Prediction: Can Exploding Burn Rate Propel Shiba Inu To $0.00005?

Shib price prediction: Shiba Inu meme coin sees a bullish breakout backed. by strategic coin burning, which hints at potential price increases
Published by
SHIB Coin Price Prediction: Can Exploding Burn Rate Propel Shiba Inu To $0.00005?

Highlights

  • Recent strategic burns potentially boost Shiba Inu’s market value.
  • Technical indicators suggest a mild bullish trend ahead.
  • Resistance breakthrough could signal further gains for SHIB.

SHIB price prediction: Shiba Inu, the second-largest meme cryptocurrency, has notably increased from last week’s bottom. The popular meme coin has surpassed the resistance level at $0.000024. Moreover, in recent hours,  SHIB price experienced substantial price volatility initially climbing to a peak of $0.00002567 before facing a steep decline.

Currently, the Shiba Inu price is trading at $0.0000248, with a slight surge of 1% in the past 24 hours.

Shiba Inu Coin Price Forecast

Despite the recent fluctuations, the trading activity has seen a decline of 25%, leading to a total of $460 million in transactions within the past day. Intriguingly, the market value of Shiba Inu has seen a modest increase of 0.45%, elevating its worth to roughly $14.66 billion.

Advertisement

Strategic Burns and Their Impact on Shiba Inu’s Valuation

The Shiba Inu cryptocurrency has seen a significant uptick in the rate at which coins are being burned, soaring by an astounding 4100%. Data from Shibburn reveals that just on the last day, a total of 82.13 million SHIB coins were eliminated from circulation. This strategic move is designed to slash the total supply of the token, potentially driving up its value as it becomes more scarce.

Following this sharp increase in the burn rate, there’s been a noticeable positive trend in the Shiba Inu market price. This trend reflects the market’s reaction to the reduced number of coins available, which could lead to increased demand and higher valuations over time. 

SHIB has seen a modest uptick in the last week, with its price rising over 7%, fluctuating between $0.00002 and $0.000026. Despite a downward trend over the past month that saw an 8% drop following market corrections, the recent uplift in its value hints at changing investor confidence, possibly indicating a shift from the prevailing bearish conditions to a more optimistic market stance.

Advertisement

SHIB Price Prediction: Technical Indicators Hint At Positive Outlook

Shiba Inu Coin is currently testing a pivotal resistance level at $0.000026. If it breaks through this barrier, its value could potentially rise to $0.00003. This upward movement may set the stage for reaching the $0.00004 level. 

On the other hand, any decrease in value could cause SHIB to fall back to a support level of $0.000024. A further drop, influenced by negative market sentiments, could push it down to $0.00002. 

Shiba Inu Coin Price Forecast| Source: Tradingview

The daily technical indicators indicate an optimistic future for the meme-coin. The Relative Strength Index (RSI) is at a neutral 47, hinting at possible gains, while the Average Directional Index (ADX) shows a mild bullish trend with a reading of 16.15.

Related Articles

Share
Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Price Analysis

Solana Price Prediction: Will Solana Hit $320 as SOL Strategies Gains Nasdaq Approval?

The Solana price has held steady, currently trading at around $202 at press time. Recent…

September 6, 2025
  • Price Analysis

XRP Price Forecast: Analyst Eyes $127 as BlackRock Joins Ripple Swell 2025

XRP price has stayed in the spotlight, pushing through mixed phases while holding steady above…

September 6, 2025
  • Price Analysis

Chainlink Price Eyes $55 as Reserve Holdings Jump With 43,937 LINK Addition

Chainlink price has been carving a path of resilience, supported by steady inflows and consistent…

September 6, 2025
  • Price Analysis

Cardano Price Targets 30% Surge as Top Economist Calls for Fed Cut

Cardano price is eying a 30% surge in the coming weeks after forming a highly…

September 5, 2025
  • Price Analysis

ETH Price Forecast as Grayscale’s Covered Call Ethereum ETF Spurs Optimism — Is $8,500 in Sight?

Ethereum ETF products have gained increased attention as the market observes new institutional entries. At…

September 5, 2025
  • Price Analysis

Bitcoin Price Prediction as SEC Unveils Agenda for Crypto Regulation — Is $200K Next?

Bitcoin price has continued to draw attention as the market reacts to fresh catalysts. At…

September 5, 2025