Shiba Inu (SHIB) Closes In on 410 Trillion Token Milestone in Its SHIB Burn Initiative

The meme coin project's latest achievement triggered bullish discussions among users, many of whom consider the development a bullish signal.

Shiba Inu is closing in on a significant 410 trillion token milestone in its SHIB burn initiative. The meme coin project's latest achievement triggered bullish discussions among users, many of whom consider the development a bullish signal.

The latest milestone reflects a resurgence in Shiba Inu's supply squeeze after slowing down in the past few years. However, the effect on SHIB's price remained negligible despite the latest upward rally.

According to data from TradingView, Shiba Inu traded for $0.00001510 at the time of writing after pulling back from a $0.00001764 local high. SHIB's recent high resulted from a 72.3% rally, which saw the meme coin overcome a dominant bearish pressure to climb above notable resistance.

Shiba Inu bounced off a $0.00001029 yearly low following a general crypto market recovery in the first week of April 2025. The bullish momentum pushed the meme coin above notable resistance, including the crucial $0.0000145 level, which it converted into support. It is crucial to note that SHIB retested the support during the latest pullback despite diminishing trading volume. The level held strong, reflecting a return of buying momentum and a climb above $0.00015. However, the crypto asset's users' sentiment remains unpredictable at the time of writing.

Despite the landmark Shibburn achievement, most analysts believe it would take significant actions by investors for Shiba Inu's bullish momentum to return in full. Nonetheless, the optimism level remains significant, riding on the recent rally that pushed the apex meme coin out of the bear zone.