Shiba Inu’s community permanently removed 41.8 million SHIB tokens from circulation in a single day, driving the burn rate up by 441% according to Shibburn data. The tokens were transferred into inaccessible wallets, making them unrecoverable. The burn coincided with a 22% price gain over the same 24-hour period, with SHIB reaching approximately $0.00000522. Its market capitalization surpassed $3.2 billion, reinforcing its position as the second-largest meme coin.
The rally has sparked increasingly bullish technical forecasts. Analyst Crypto Patel noted that SHIB has completed a 95% macro correction and is now trading within a historical accumulation zone where weekly fractals resemble patterns that preceded previous price explosions. Patel suggested a potential 2,200% rally if SHIB achieves a weekly close above $0.000006697 with rising volume, while a weekly close below $0.0000035 would invalidate the accumulation thesis. Another analyst, Crypto With Gopal, presented an even more optimistic scenario based on a falling wedge formation, with a breakout potentially pushing SHIB toward $0.00025, a nearly 5,000% increase from current levels.
Despite the enthusiasm, caution remains. Shiba Inu’s burn rate has declined more than 91% over the past month, meaning the circulating supply remains enormous. Activity on Shibarium, the project’s layer-2 scaling solution, has also weakened, with daily transactions falling to only a few thousand. Holding the $0.000005 level is seen as important psychological and technical support, and sustained trading volume will be necessary for any convincing breakout. While token burns support scarcity, demand, liquidity, network development, and broader market conditions will ultimately determine SHIB’s longer-term direction.
