Dogecoin News Today: Shiba Inu Gains 1.26% as 1,985% Burn Surge Fuels Bullish Outlook

Shiba Inu (SHIB) has demonstrated renewed bullish momentum, driven by a key technical pattern and a surge in token burn activity. The token traded at $0.00001297 at the time of reporting, with a 1.26% gain in the previous 24 hours. Technical analysis indicates that SHIB has formed an inverse head and shoulders pattern, with a neckline breakout near $0.00001306. Analysts suggest that a successful and sustained breakout could propel the price toward $0.00002600, marking a potential 100% increase [1]. The breakout is supported by a Relative Strength Index (RSI) of 48, which currently reflects neutral conditions but allows for upward movement if buying pressure intensifies [1].

The technical strength is being reinforced by a dramatic increase in token burn activity. Over 4.7 million SHIB tokens were burned in a 24-hour period, driving the burn rate up by an astonishing 1,985%. This aggressive reduction in supply is creating long-term bullish pressure by decreasing the circulating supply, which is expected to enhance the token’s scarcity and value proposition for investors [1]. The burn surge aligns with broader efforts to improve the ecosystem, including a recent partnership between Shibarium and DegenSafe to enhance network security. The collaboration aims to protect users against scams and wallet compromises, which remain persistent risks in the crypto space [1].

The price movement has also shown a strong alignment with key technical levels. Immediate resistance is positioned at $0.00001397 and $0.00001600, while near-term support is located at $0.00001252. A breakdown below the support level could challenge the bullish outlook, but SHIB has shown resilience by rebounding off key demand areas and remaining within a consolidation channel [1]. The controlled momentum suggests that the token is building a foundation for a more substantial move, particularly if the price can break above $0.00001724, which could accelerate the rally [1].

In the broader context, SHIB has gained 4.42% in the last 24 hours, trading around $0.0000135. The token has emerged as a key player in the ongoing revival of the meme coin sector, alongside Dogecoin [4]. A 3.66% increase in the previous 24 hours further highlights the growing interest and potential for SHIB to sustain its upward trend [2]. Analysts have also noted that SHIB’s performance is gaining traction against a backdrop of renewed enthusiasm for the meme coin category.

Looking ahead, the price projections for SHIB remain cautiously optimistic. Some forecasts suggest a potential 88% rally to $0.000025 within 4–6 weeks, while others project a maximum of $0.00004389 by August 2025 [6][5]. It is important to note that these are analyst forecasts and should be treated as such; actual outcomes may vary depending on market dynamics and investor sentiment.

The combination of strong technical signals, an aggressive token burn strategy, and enhanced security measures underpins a constructive outlook for SHIB in the near to mid-term. Provided that key resistance levels are cleared and positive momentum is maintained, the token appears well-positioned to continue its upward trajectory.

Source:

[1] Shiba Inu Price Targets $0.000026 Amid 4.7M Token Burn and Shibarium Security Boost (https://coingape.com/markets/shiba-inu-price-targets-0-000026-amid-4-7m-token-burn-and-shibarium-security-boost/)

[2] Shiba Inu Breaks Out With 3.66% 24-Hour Gain Triggers Bullish Outlook (https://www.ainvest.com/news/shiba-inu-breaks-3-66-24-hour-gain-triggers-bullish-outlook-2508/)

[4] Shiba Inu and Dogecoin Lead Meme Coin Revival as Pepe Climbs 9% in 24 Hours (http://www.msn.com/en-us/money/topstocks/shiba-inu-and-dogecoin-lead-meme-coin-revival-as-pepe-climbs-9-in-24-hours/ar-AA1KwM4d?apiversion=v2&batchservertelemetry=1&domshim=1&noservercache=1&noservertelemetry=1&ocid=finance-verthp-feeds&renderwebcomponents=1&wcseo=1)

[5] Price Prediction: SHIB Targeting $0.000025 by September 2025 (https://blockchain.news/news/20250817-price-prediction-shib-targeting-0000025-by-september-2025-amid)

[6] Price Predictions.com Shiba Inu Forecast (https://blockchain.news/news/20250817-price-prediction-ton-targeting-370-breakthrough-as-technical-setup)