The Shiba Inu price is showing strength as investors react to a massive weekly token burn. In the past seven days, the SHIB community destroyed 535 million tokens, reducing supply and fueling bullish expectations. Analysts now predict a potential 22% rally if momentum continues.
SHIB Burn Boosts Price Sentiment
On Saturday, SHIB gained over 2% intraday, trading at $0.00001276. The meme coin hit a low of $0.00001244 and a high of $0.0000129, reflecting a rising trajectory driven by the burn mechanism.
Massive Weekly Burn Rate Surge
📌 535.85M SHIB burned in the last 7 days
📌 415% increase in the weekly burn rate
📌 Total burned supply: 410.49 trillion SHIB
The Shibburn tracker reported a 415% surge in the burn rate, signaling a stronger push toward reducing supply. The burn mechanism permanently removes tokens, limiting circulating supply and potentially increasing demand.
Shiba Inu’s Daily Burn Keeps Uptrend Alive
In the past 24 hours, another 5.11 million SHIB tokens were destroyed. This consistent burn further strengthens market optimism, with investors anticipating higher long-term price gains.
Currently, 999.99 trillion SHIB exist, with 410 trillion already burned. Despite market fluctuations, bullish sentiment remains strong as traders eye the next breakout.
Can Shiba Inu Price Gain 22%?
The broader crypto market recovery has boosted confidence in Shiba Inu’s price movement. As a result, investors are looking at key technical levels to determine the next move.
Crypto analyst Rose Premium Signals highlighted a critical falling wedge breakout on the 4-hour chart. If SHIB breaks above the 50-day moving average (MA 50), it could confirm a bullish trend.
Key SHIB Price Targets:
🔹 $0.00001375
🔹 $0.00001485
🔹 $0.00001565 (22% increase from current levels)
If buying momentum holds, SHIB could rally toward these targets in the coming days. However, market trends and macro conditions will play a crucial role in confirming the bullish breakout.