Dogecoin News Today: Shiba Inu's Breakout: Can Meme Coin Defy Odds and Burn Its Way to $0.000081?

Shiba Inu’s recent price action has drawn attention from traders and analysts alike, as the token exhibits a potential technical reversal pattern. According to recent data, SHIB has broken out of a descending triangle formation, a key bullish signal that could herald a significant price increase. This development has led to projections of a 570% rally to $0.000081, driven by a combination of strong on-chain metrics and increasing investor optimism [1].

The token’s price is currently at $0.00001226, up 0.7% in the past week. This follows a period of consolidation, during which SHIB failed to break past key resistance levels, but has now surged above the 100-period Exponential Moving Average (EMA) at $0.00001244 [1]. Analysts highlight the importance of this breakout, noting that a sustained move above $0.00001261—aligned with the 200-period EMA—could extend the uptrend toward $0.00001279, with further potential for gains to $0.00001310 [3].

This technical shift is supported by growing on-chain activity and bullish momentum indicators. The Moving Average Convergence Divergence (MACD) has shown a sharp increase in green histogram bars, signaling a surge in buying pressure, while the Relative Strength Index (RSI) stands at 58, indicating a shift toward bullish momentum [3]. Additionally, SHIB's weekly trading volume has grown significantly, with a 1% drop in exchange supply reinforcing the possibility of a sustained breakout [1].

Analysts and traders are closely watching SHIB’s performance, particularly in light of broader trends in the meme coin sector. While SHIB has historically underperformed compared to Dogecoin, recent developments in its ecosystem—including the continued expansion of Shibarium and token burn initiatives—suggest a more deflationary path [1]. Shibarium, the Layer-2 blockchain associated with SHIB, has already burned over 50 billion tokens since its launch in August 2023. The volume of transactions processed on Shibarium is a critical factor in determining how many tokens can be burned, with higher activity leading to greater supply reduction [1].

Despite these bullish indicators, SHIB faces significant challenges. The token's enormous supply of approximately 589 trillion remains a barrier to reaching ambitious price targets like $0.000081, which would require a market capitalization of around $589 billion—exceeding Ethereum’s current valuation of $519 billion [1]. To achieve such a valuation, large-scale and sustained token burns would be necessary to significantly reduce supply.

Several mechanisms are already in place to facilitate this. Shibarium continues to auto-burn SHIB from transaction fees, while crypto exchanges like Binance and Coinbase have been encouraged to implement SHIB burn mechanisms tied to trading activity. Additionally, initiatives like the Karma Reputation System, currently in beta, aim to incentivize community-driven burns by rewarding users with experience points (XP) for participating in the burn campaign [1].

The broader crypto market also plays a role in SHIB’s trajectory. The token benefits from inflows into Ethereum-based assets, particularly with the rising popularity of spot ETH ETFs. Analysts from Coinpedia Markets have noted that such inflows could propel SHIB to new all-time highs, potentially reaching $0.00001679 [1]. However, the token must navigate a competitive landscape, with other meme coins like Dogecoin and Pepe showing strong momentum. Dogecoin, for instance, has broken out of its own consolidation pattern and is approaching a Golden Cross on the 4-hour chart [3].

Looking ahead, SHIB’s potential to achieve a 570% rally will depend on sustained on-chain activity, continued community participation in burn efforts, and the broader adoption of the Shiba Inu ecosystem. While the projections remain speculative, the technical indicators and ecosystem developments suggest a scenario where SHIB could outperform its meme coin peers in the near term. Traders and investors are advised to monitor key resistance levels and volume trends to assess the likelihood of a sustained uptrend [1].

Source:

[1] title1 (https://thecryptobasic.com/2025/09/06/here-is-how-shiba-inu-can-reach-0-001-by-reducing-supply-with-these-5-methods/)

[2] title2 (https://www.coinbase.com/en-in/price/shiba-inu)

[3] title3 (https://www.fxstreet.com/cryptocurrencies/news/meme-coins-price-prediction-dogecoin-shiba-inu-and-pepe-are-poised-for-a-rally-202509080454)

[4] title4 (https://crypto-economy.com/dogecoin-vs-shiba-inu-which-meme-coin-emerges-as-the-best-crypto-to-buy-in-2025/)

[5] title5 (https://finance.yahoo.com/news/dogecoin-shiba-inu-sideways-again-124935289.html)