Key takeaways
- Shiba Inu’s burn rate surged 6,519% in 24 hours, removing 28.18 million tokens from circulation.
- Price stalled at $0.0000153, facing rejection below a descending trendline despite strong momentum.
- RSI remains below 60, suggesting SHIB still has room to rally if bulls regain control.
- Analysts see a 105% upside potential if SHIB holds above $0.00001500 and breaks resistance.
- SHIB price prediction for May 2025 ranges between $0.00001200 and $0.00001750, with $0.000081 long-term targets under bullish conditions.
Shiba Inu’s burn rate hit a staggering 6519% in the last 24 hours with more than 28 million SHIB tokens burned on May 14. The dramatic increase comes after weeks of slower burns, where weekly totals had dropped more than 80%, catching the community off guard.
Shiba Inu Burn Rate Soars But Price Struggles
Despite the aggressive burn, Shiba Inu failed to sustain a breakout above $0.0000157, falling back to $0.0000153. It continued to hover under a tight price that has capped price action since 2023. Currently, SHIB hit an intraday high of $0.00001577 before falling to $0.00001523, failing to hold momentum above the crucial resistance zone and dashing short-term bullish expectations.
Technical indicators at the 1-D chart show the RSI nearing 59, indicating it’s not yet overbought. If bulls can’t drive the price higher, SHIB risks slipping back to its key support at nearly $0.00001000.
Read more: Shiba Inu Price Prediction.
Will Shiba Inu Reach $1
While a direct move to $1 seems a bit far-fetched in the short term due to Shiba Inu’s massive supply, technical analyst Javon Marks argues that a 105% rally is plausible if the meme token confirms the $0.00001500 support.
“$SHIB (Shiba Inu)’s been showing some notable strength, recovering nearly +30% in the past few days, but this could be only the beginning! “– Javon Marks on X.
His analysis points to bullish divergence on the chart paired with a 30% price rebound, combined with consistent token burns and whale accumulation trends, as catalysts for a multi-week breakout.
Is Shiba Inu Burn Rate Enough?
While the Shiba Inu burn schedule remains a key bullish narrative, it may not be sufficient to carry the token higher without supporting fundamentals or broader market momentum. Exchange reserves have dropped, signaling reduced sell pressure, but with macro data and meme coin saturation influencing sentiment, traders are looking for confirmation before chasing higher targets.
Despite the failed breakout, Shiba Inu has remained up 20% over the past week— an encouraging sign for traders tracking the meme coin’s recovery.
Conclusion
With burn rate spiking, technical structure forming, and macro news pending, Shiba Inu finds itself at a crossroads. $0.00001500 remains the key level to watch — a break above could open the door for a significant rally. Until then, traders are advised to watch for volume, trendline breakout, and ecosystem developments.
