Shiba Inu Burn Rate Jumps, Price Eyes Breakout

Shiba Inu (SHIB) has recently shown signs of renewed strength. A sharp increase in token burns and rising network activity have turned market attention back to the meme coin, even as technical indicators hint at a possible shift in momentum.

Over 410 Trillion SHIB Burned as Supply Tightens

In the past 24 hours, Shiba Inu’s burn rate surged by over 3,100%, according to data from ShibBurn. Roughly 18.83 million SHIB tokens were sent to a burn wallet, permanently removing them from circulation.

This aggressive burning strategy has now pushed the total burned supply to more than 410 trillion tokens, creating scarcity in the SHIB ecosystem. Unlike token unlocks, which increase supply and can weigh down prices, burns are deflationary and can help support long-term value.

Shibarium Milestones Reflect Growing Network Utility

SHIB’s layer-2 solution, Shibarium, has also seen notable traction. It has now processed over 1.129 billion transactions and reached 206 million wallet addresses, signaling strong community engagement and network adoption.

Transaction fees on Shibarium are partially converted to SHIB and burned, reinforcing the token’s deflationary model through active usage. As more users join the network, this cycle of activity and burning may strengthen price support over time.

Technical Setup: Support Holds, Momentum Builds

At the time of writing, SHIB was trading at $0.00001486, marking a daily gain of 10.43%. The token has remained above a long-standing ascending support line dating back to mid-2022, a level that continues to act as a strong price floor.

For a more detailed Shiba Inu price prediction 2030, check out our full analysis!

Key Fibonacci resistance levels include:

🔷23.6% retracement at $0.00002479

🔷38.2% retracement at $0.00003697

🔷50% level at $0.00004682

🔷61.8% resistance at $0.00005667

These levels may cap further gains unless strong bullish momentum develops.

MACD and RSI Suggest a Possible Momentum Shift

While the MACD remains in bearish territory, histogram bars are narrowing — an early sign of a potential bullish crossover. If confirmed, this could strengthen upward price momentum.

The Relative Strength Index (RSI) is currently at 41.11, suggesting the asset is neither overbought nor oversold. A gradual rise in the RSI points to cautious buyer interest but still lacks the strength needed for a confirmed uptrend.

Whale Activity Points to Quiet Accumulation

Recent trading patterns showed small-bodied candles, which typically signal indecision in the market. However, the price bounced off a historical support level at $0.00000510, suggesting that accumulation may be underway.

On-chain data from IntoTheBlock showed 48 large SHIB transactions within 24 hours — close to the 7-day high of 49. This uptick in large transfers is often associated with whales positioning themselves before major price moves.

Mixed Liquidation Patterns Highlight Unclear Sentiment

According to CoinGlass, liquidation trends have remained inconsistent. A major long liquidation on April 7 wiped out over $900,000, while a sudden price recovery on April 23 triggered a wave of short liquidations.

Since early April, long and short liquidations have become more balanced, showing that traders are cautious and waiting for a clearer trend. Recent market behavior — including a flattening price range and lighter liquidation volume — supports the idea that traders are sitting on the sidelines, anticipating a breakout.

Shiba Inu's recent spike in burns, strong network activity on Shibarium, and early signs of a technical breakout make it a token to watch. With whale accumulation rising and momentum indicators nearing critical levels, SHIB could be preparing for a significant price move — but traders will need to stay alert for confirmation.