- SHIB’s burn rate surged 1538%, but price action remains underwhelming.
- Major SHIB holders are dumping billions, putting investor confidence at risk.
- Analyst predicts 550% upside if SHIB breaks $0.00001142 resistance level.
Shiba Inu (SHIB) is creating confusion among investors as opposing trends ripple across its market. On one hand, token burns have surged dramatically, signaling deflationary pressure. On the other, major holders are dumping billions of tokens, potentially undermining confidence.
Over the last 24 hours, SHIB’s burn rate soared by an astounding 1538%, according to data from Shibburn. A single wallet, identified as “0x541f60e5576,” accounted for nearly 17.13 million of the 34.21 million tokens destroyed. While this burn reduces the overall supply, price action has failed to reflect it positively.
Volume Drops and Price Struggles Despite Token Burns
Despite the aggressive token burning, SHIB’s price fell by 3.52% over the same period. It now trades at $0.00001095.
Early session losses drove the price down to a low of $0.00001000, a key support level. It later bounced back slightly before facing resistance near $0.00001135. These price zones show that SHIB is struggling to hold upward momentum.
According to Coinglass data, Moreover, 24-hour trading volume shrank by over 20%, landing at $285.74 million. Open interest also dropped slightly by 0.42% to $100.48 million. This decline reflects fading short-term enthusiasm in SHIB derivatives. The Vol/Mkt Cap ratio sits at 4.43%, showing moderate interest overall.
Analyst Forecasts and Long-Term Outlook
Crypto analyst Javon Marks remains bullish whereby he projects a 550% upside, targeting a price of $0.000081 in the long term. For a bullish reversal to take shape, SHIB needs a daily close above $0.00001142. A breakout above $0.00001180 could pave the way toward $0.0000138, with the 50-day moving average near $0.000015 as the next key level.
Coincodex data suggests, by December 2025, SHIB is forecasted to trade around $0.00002141 nearly doubling from current levels if momentum holds.
