Shiba Inu Surges 9% Amid Bullish Altcoin Market and Token Burn

The Shiba Inu community has been closely monitoring the price movements of SHIB, which have been fluctuating due to global tensions such as the Iran-Israel conflict. Despite the uncertainty, SHIB has seen a 9% increase, raising questions among holders about the possibility of reaching the $0.00003 level.

According to crypto analyst Jonathan Carter, this target is not unrealistic, especially considering the growing market interest and increasing token burn rates. One major reason for the growing optimism is the bullish sentiment in the altcoin market. With Bitcoin recovering and holding steady above $105K, many altcoins, including SHIB, have gained almost 10%. SHIB’s strong community also plays a significant role in maintaining this momentum.

Another key factor is Shiba Inu’s impressive token burn activity. In the last 24 hours alone, SHIB’s burn rate surged by 582%, removing over 16.7 million tokens from circulation. This reduction in supply could lead to more upward pressure on the price.

Reaching the $0.00003 mark won’t happen overnight. According to analyst Jonathan Carter, Shiba Inu needs to follow a few key steps to hit that target. As of now, SHIB is trading around $0.00001170, showing a 9% increase in the last 24 hours. On the daily chart, Carter notes that SHIB is forming a descending channel pattern. After falling from the upper resistance line, the price is now testing a key midline support zone. If SHIB manages to hold and bounce from this zone, Carter suggests it could climb to $0.00001250 first — and from there, a strong momentum push might carry it past $0.00003. This would be nearly a 3x move from current levels, which is why many see this as a major bullish setup, especially with SHIB continuing to hold key technical zones.

Backing this technical optimism is some massive on-chain activity. Data shows that large Shiba Inu holders, wallets owning between 10 trillion and 100 trillion SHIB, went on a major buying spree. These whales purchased an eye-popping 10.4 trillion SHIB tokens in a single day, worth about $114 million. That makes it the biggest daily accumulation SHIB has seen in the last five months, and the second-largest for all of 2025 so far.

If momentum builds and retail investors follow the whales, SHIB could enter a new bullish phase. A confirmed breakout from the descending channel might be the green light needed for that push toward $0.00003. The current price of SHIB stands at $0.00001162, and while there is optimism surrounding its potential to reach higher levels, it is important to acknowledge the challenges that lie ahead. Achieving a price of $0.00003 would require a significant catalyst, as the cryptocurrency currently lacks the necessary drivers to propel it to such heights. This represents an increase of over 1,000% from its current levels, a feat that would necessitate a substantial shift in market dynamics and investor sentiment.

In summary, while the recent price surge of SHIB has fueled hopes of reaching the $0.00003 level, it is essential to approach such predictions with a critical eye. The cryptocurrency market is inherently volatile, and the success of SHIB will depend on various factors, including market conditions, investor sentiment, and the emergence of new catalysts. As such, investors should exercise caution and conduct thorough research before making any investment decisions.