Shiba Inu (SHIB) Price Prediction: Explosive SHIB Burns Could Trigger Breakout Above $0.000012
The post Shiba Inu (SHIB) Price Prediction: Explosive SHIB Burns Could Trigger Breakout Above $0.000012 appeared on BitcoinEthereumNews.com.
With over 20 million SHIB tokens incinerated in a single […] With over 20 million SHIB tokens incinerated in a single day, the deflationary momentum appears to be gaining traction. However, price action remains hesitant as broader market dynamics and waning user engagement temper investor optimism. SHIB Burn Rate Skyrockets Over 2,000% On April 15, Shiba Inu’s burn rate soared by an eye-popping 2,063%, according to data from Shibburn. More than 20.8 million tokens were permanently removed from circulation within 24 hours. One notable transaction involved a single wallet address—tagged “0x541…886e0″—that alone burned over 14.5 million SHIB. Shiba Inu’s burn rate skyrockets 2,000%, with 20 million tokens incinerated in a day on April 15. Source: Shibburn These burns reflect the SHIB community’s ongoing commitment to reducing the coin’s massive circulating supply, which still hovers near 584 trillion. Since its launch, the ecosystem has successfully eliminated over 410 trillion SHIB tokens, reinforcing its status as the only deflationary meme coin among competitors like Dogecoin and Pepe. Despite these efforts, the price has shown limited movement. At the time of writing, SHIB trades around $0.00001195, down roughly 2% over the past 24 hours. This tepid response has left investors wondering whether the burn mechanism alone is sufficient to move the price needle. Key Support Holding Firm—Is a Breakout Imminent? From a technical standpoint, Shiba Inu is sitting at a historically significant support level. The current price aligns with an ascending trendline that dates back to 2021, a zone SHIB has repeatedly bounced off in previous downtrends. According to analysts, a decisive break above $0.00001238 could set the stage for a bullish breakout, potentially targeting the $0.00002 range. Shiba Inu (SHIB) price shows signs of a potential breakout, with a strong pump expected soon. Source: MMBTtrader on TradingView “The neckline formed in August…
Filed under: News - @ April 15, 2025 11:24 pm