Shiba Inu (SHIB) Price Prediction: Explosive SHIB Burns Could Trigger Breakout Above $0.000012

With over 20 million SHIB tokens incinerated in a single […]

With over 20 million SHIB tokens incinerated in a single day, the deflationary momentum appears to be gaining traction. However, price action remains hesitant as broader market dynamics and waning user engagement temper investor optimism.

SHIB Burn Rate Skyrockets Over 2,000%

On April 15, Shiba Inu’s burn rate soared by an eye-popping 2,063%, according to data from Shibburn. More than 20.8 million tokens were permanently removed from circulation within 24 hours. One notable transaction involved a single wallet address—tagged “0x541…886e0″—that alone burned over 14.5 million SHIB.

Shiba Inu’s burn rate skyrockets 2,000%, with 20 million tokens incinerated in a day on April 15. Source: Shibburn

These burns reflect the SHIB community’s ongoing commitment to reducing the coin’s massive circulating supply, which still hovers near 584 trillion. Since its launch, the ecosystem has successfully eliminated over 410 trillion SHIB tokens, reinforcing its status as the only deflationary meme coin among competitors like Dogecoin and Pepe.

Despite these efforts, the price has shown limited movement. At the time of writing, SHIB trades around $0.00001195, down roughly 2% over the past 24 hours. This tepid response has left investors wondering whether the burn mechanism alone is sufficient to move the price needle.

Key Support Holding Firm—Is a Breakout Imminent?

From a technical standpoint, Shiba Inu is sitting at a historically significant support level. The current price aligns with an ascending trendline that dates back to 2021, a zone SHIB has repeatedly bounced off in previous downtrends. According to analysts, a decisive break above $0.00001238 could set the stage for a bullish breakout, potentially targeting the $0.00002 range.

Shiba Inu (SHIB) price shows signs of a potential breakout, with a strong pump expected soon. Source: MMBTtrader on TradingView

“The neckline formed in August last year and the repeated tests of support near $0.000012 make this level a critical inflection point,” said one market observer. “A strong close above resistance could spark renewed interest.”

Community influencer SHIB Knight echoed this sentiment, posting on X that a “new pump wave is loading,” suggesting optimism among long-term holders.

Network Activity Slows Amid High Burn Momentum

Despite the token burn frenzy, Shiba Inu’s network activity tells a more cautious story. Daily active addresses have dropped significantly—falling from over 13,000 in mid-February to below 3,000 now, according to Santiment. This 78% drop points to declining retail interest and possibly a wait-and-see approach from traders.

Low user engagement could explain the recent lack of price movement despite aggressive burning. “Even with consistent burns, it’s difficult to push prices up when daily interactions are trending downward,” noted a trader using the alias “wallstreetbets.”

Shibarium’s Role in the Deflationary Push

Shibarium, the project’s layer-2 blockchain solution, continues to be a vital part of SHIB’s deflation strategy. The network has processed over 1.047 billion transactions and now boasts more than 197 million total addresses. A portion of gas fees from Shibarium transactions—paid in BONE—is converted into SHIB and subsequently burned.

This built-in mechanism ensures ongoing reduction in supply, though its real impact is gradual. As Shibarium adoption expands, more transactions will translate into higher SHIB burns, enhancing the asset’s scarcity over time.

Community Still Confident, But Wants More

The Shiba Inu community remains a cornerstone of the project’s resilience. SHIB’s marketing lead, Lucie, recently emphasized that SHIB’s popularity isn’t solely dependent on supply metrics. “Thousands own a fraction of it, and they see and feel the spirit,” she wrote, underscoring the project’s community-first ethos.

Shiba Inu (SHIB) was trading at around $0.00001188 at press time. Source: Brave New Coin

However, some within the SHIB Army believe current burn rates are not enough. They advocate for more aggressive reduction strategies to accelerate the journey toward long-term price targets like $0.01 or even $1—a feat that would require significant cuts to the circulating supply.

Lead developer Shytoshi Kusama acknowledged this concern, stating that while large-scale burns are possible, real-world utility and mass adoption are just as important for sustainable growth.

Final Thoughts

As SHIB continues to grapple with high supply and volatile market conditions, its recent burn rate explosion adds a bullish undertone to an otherwise uncertain outlook. A breakout above $0.00001238 remains a critical level to watch. If achieved, it could confirm bullish momentum and validate ongoing deflationary efforts.

Until then, SHIB’s path will likely depend on a combination of supply reductions, community-driven utility, and broader market sentiment. For now, the meme coin is holding the line—with eyes firmly set on a potential breakout.