Dogecoin News Today: Shiba Inu Rises 2%—But Can It Outrun Its Past?

Shiba Inu (SHIB), the Ethereum-based memecoin launched in 2020, has seen a 2% increase in price over the past 24 hours, placing it fifth among memecoins by performance. The current price of SHIB stands at $0.000012, with a market capitalization of $7.3 billion as of September 3, 2025. Despite its recent gains, the token remains significantly below its all-time high of $0.000090, which was reached in September 2021. SHIB’s performance has outpaced the broader cryptocurrency market’s 1% gain, trailing only the 5% rise of WIF. In the past week, SHIB’s price has seen a 0.44% decline, while monthly trading activity has grown by 3%, contrasting with the 64% drop in volume for the TRUMP token over the same period.

The token’s ecosystem continues to evolve with the development of Shibarium, a Layer-2 blockchain designed to reduce transaction costs and increase throughput. Recent milestones include reaching one billion transactions on Shibarium and the burning of one billion SHIB tokens in March 2025. However, Shibarium activity has dipped significantly since August 26, with daily transactions falling below one million and current volume at just 16.67K, according to Shibariumscan. This decline may indicate reduced short-term activity or potential shifts in user behavior across the broader memecoin landscape.

Market data also reveals that SHIB’s circulating supply remains at 589 trillion tokens, representing 100% of its maximum supply of 590 trillion. The token’s popularity has remained steady, with SHIB ranking third among tradable assets on Coinbase and maintaining a dominance of 0.2% in the overall cryptocurrency market. Recent on-chain activity shows that 97% of Coinbase users are currently buying SHIB, with net positions increasing over the past 24 hours. Whale activity has been a focal point, with a notable purchase of 10.4 trillion SHIB tokens by large holders in June 2025, signaling continued interest from major investors.

Technical indicators have shown mixed signals for SHIB’s short-term outlook. Some traders point to bullish MACD divergences as signs of potential upside, with projections suggesting a possible 163% increase toward $0.00003 and an even more ambitious 570% move toward $0.000081. Conversely, bearish indicators such as rising circulation and declining exchange withdrawals have raised concerns about a potential breakdown in key support levels. The token has also faced volatility due to large whale exits and a 300 billion token dump, which has intensified downward pressure.

Analysts are closely watching SHIB’s performance within the broader memecoin sector, where it faces stiff competition from tokens like Dogecoin (DOGE) and newer entrants such as PEPE. While DOGE has held firm around its $0.208 support level, SHIB’s reliance on Ethereum’s blockchain and its community-driven governance model distinguish it from its rivals. The token’s ecosystem is still in the early stages of scaling, with projects such as ShibaSwap and a potential metaverse development aiming to drive long-term adoption.

Despite the challenges, SHIB continues to attract attention from traders and investors, with over 3,500 searches recorded in the last 24 hours and active discussions on social media platforms. The token’s future will depend on its ability to maintain momentum in the face of macroeconomic conditions, technological advancements, and evolving market sentiment. While short-term performance is subject to volatility, the long-term trajectory of SHIB will hinge on the success of its ecosystem expansion and the effectiveness of its token-burning strategy.

Source: [1] SHIBA INU Price, SHIB Price, Live Charts, and Marketcap (https://www.coinbase.com/price/shiba-inu) [2] shiba inu (SHIB) | Live Price, Interactive Charts, Converter, ... (https://www.binance.us/price/shiba-inu) [3] Dogecoin, Shiba Inu Go Sideways (Again): Will They Ever See ... (https://finance.yahoo.com/news/dogecoin-shiba-inu-sideways-again-124935289.html) [4] Dogecoin vs Shiba Inu - Which memecoin has the brighter ... (https://eng.ambcrypto.com/dogecoin-vs-shiba-inu-which-memecoin-has-the-brighter-future/)