Shiba Inu Price Stabilizes Amid ETF Speculation, 62,000% Burn Rate Surge

Shiba Inu (SHIB) has seen a stabilization in its price, currently trading at approximately $0.00001303. This marks a recovery from its recent low of $0.00001085, although it remains about 62% below its November peak, which reduced its market capitalization from $19 billion to around $7.5 billion.

Recent developments have sparked renewed interest in the meme coin. Lucie, the marketing lead for the SHIB community, highlighted factors that could make Shiba Inu a candidate for an Exchange-Traded Fund (ETF). Lucie noted that SHIB is available on more than 110 exchanges with 212 trading pairs, including all major crypto trading platforms. This global accessibility makes it potentially suitable for an ETF product.

The ETF speculation comes amid broader market optimism around crypto-backed ETF filings. The US SEC recently acknowledged Grayscale’s filing for a Dogecoin ETF, and there are rumors about a potential BlackRock Dogecoin ETF filing. Adding to investor optimism is an extraordinary surge in SHIB’s burn rate, with reports indicating an increase between 8,454% and 62,000% in recent days. Over 1 billion tokens were burned in a 24-hour period, with a single wallet address responsible for burning 1 billion tokens. The burn mechanism permanently reduces the circulating supply by sending tokens to a null address, and after this massive burn event, the total circulating supply stands at approximately 584.35 trillion coins.

Whale activity has also been a point of interest, with large investors reportedly increasing their SHIB holdings. A previously dormant Ethereum whale acquired billions of tokens, indicating significant interest from major investors. The Mean Dollar Invested Age (MDIA) indicator has risen to 82, up from the year-to-date low of 39, suggesting longer-term holding patterns among investors.

Technical analysts point to several patterns suggesting potential upward movement. The coin has formed a falling wedge pattern, often considered a bullish sign. The Percentage Price Oscillator and Relative Strength Index have tilted upwards, and some analysts have identified a quadruple bottom at $0.00001235, potentially indicating a price floor. Price predictions for SHIB vary widely, with conservative estimates suggesting it could reach $0.000013 by the end of 2025, indicating modest growth. More optimistic forecasts project values between $0.0000167 and $0.0000741. Some analysts have even suggested a 500% surge to $0.000081, dependent on continued token burns and positive market sentiment. One analyst has made a bold claim that SHIB could eventually reach $0.01, representing an 83,000% increase. This prediction cites SHIB’s deflationary nature compared to Bitcoin’s inflation, its utility through the Shibarium layer-2 network, and global partnerships.

However, challenges remain for SHIB’s price recovery. The cryptocurrency market remains highly volatile, and regulatory developments could impact investor sentiment. Competition from other meme coins and alternative cryptocurrencies could divert investment away from SHIB. The Shibarium ecosystem, while promising, remains in early stages of development. For now, many analysts believe SHIB’s price could potentially retest the resistance level at $0.00001855, representing a 45% increase from current levels. A drop below $0.00001085 would invalidate this bullish outlook.