Shiba Inu Token Burns Surge 38,299%

Shiba Inu, a popular meme cryptocurrency, has experienced a surge in token burns, with over 280 million tokens removed from circulation in a single day. This represents a 38,299% increase in the burn rate, significantly reducing the circulating supply to approximately 584 trillion tokens. The SHIB community has long advocated for token burning as a method to create scarcity, which theoretically should increase the value of the remaining coins.

Despite this positive development, the price of SHIB has been trading within a narrow range of $0.0000130 to $0.00001374. The token reached a monthly high of $0.00001511 on April 26, 2025, but failed to break through key resistance levels. Analysts suggest that if SHIB can break through these resistance levels, it could potentially double in price. Currently, the token is trading at $0.00001332.

Large transaction volume for Shiba Inu has dropped to its lowest point in the past week, with only 1.79 trillion SHIB tokens traded in a 24-hour period. This low level of whale activity is part of a trend showing consistently subdued movement from large holders. The most active day in the past week was April 25, when 109 large transactions pushed the volume to 2.93 trillion SHIB tokens. For context, on January 7, Shiba Inu’s large transaction volume spiked to 34.42 trillion SHIB tokens, translating to about $751.22 million in total value. The current figures represent a fraction of that activity.

Market analysts are closely watching key price levels that could determine SHIB’s direction in the coming months. Some experts suggest that Shiba Inu may double in price if it can break through the lower resistance level near its monthly high. Breaking through the higher resistance at $0.000018 would mean overcoming what traders call a 540 trillion SHIB sell wall – a pool of coins spread across 152,700 wallet addresses. Regaining the $0.000014 price level may be crucial for SHIB’s direction. Currently, almost 40% of SHIB holders are in profit. A breakout above $0.000014 would reverse this figure, putting the majority of owners in profitable positions for the first time in weeks.

Technical indicators are giving mixed readings. The Chaikin Money Flow (CMF) indicator has turned positive again, suggesting renewed buying by deep-pocketed traders. Meanwhile, the Stochastic Relative Strength Index is between 11 and 9, indicating SHIB may be trading below what some experts consider its fair market value. The price of SHIB has risen more than 10% this month, even as trading volumes have decreased in recent days. The market cap currently stands at $8.04 billion.

The lack of movement from major holders could suggest either price exhaustion or a calm before a more decisive move. Some traders are waiting for clearer signals before making substantial moves. With the overall cryptocurrency market sentiment improving, the next few weeks could prove decisive for the direction of this popular meme token. Market participants are now watching to see if the combination of technical factors, increasing whale appetite, and aggressive token burning will be enough for SHIB to break through its strong resistance levels.