Shiba Inu (SHIB) Followed the Meme Coin Crowd with a Strong Rally, Jumping About 25%

Shiba Inu (SHIB) followed the meme coin crowd with a strong rally, jumping about 25% in the last 30 days. But this surge feels more like a relief rally

Shiba Inu (SHIB) price has followed the meme coin crowd with some decent gains, notching up about a 25% rally in the last 30 days. However, while these gains are noteworthy, the 7-day ratio shows momentum is slowing down.

Shiba Inu Price Still Shows Signs Of Momentum

Shiba Inu is up 24% in the last 30 days, currently trading around $0.00001487 with a market cap close to $9 billion.

As the 7-day price ratio stands at a 12% increase, it seems that Shiba Inu’s price momentum might be slowing down.

The strong move is backed by a massive 2,952% surge in whale inflows into SHIB in May, according to Glassnode data.

On-chain metrics from the blockchain analytics firm also highlight a 6,050% increase in larger holder netflow, showcasing a significant shift in major Shiba Inu holders’ activities.

This increased demand helped the Shiba Inu price break out of a falling wedge pattern, which has seen its price rally to about $0.00001551 today.

Why Is Shiba Inu’s Momentum Slowing Down Despite the Rally

Shiba Inu’s price looks to be staging a comeback this year.

Behind the scenes, SHIB, the meme coin just behind Dogecoin, has been busy building out the ecosystem with a collection of ecosystem tokens, a decentralized exchange, and its growing layer-2 solution, Shibarium.

Regular token burns have also played a key role, gradually cutting the supply and nudging the price up. So far, nearly half of all SHIB tokens have been burnt, that’s 410 trillion out of the original 999 trillion removed from circulation.

The Shiba Inu community has successfully burned 58.3 million SHIB tokens in the past week. While the burn rate decreased by 20.77% compared to last week, the coin saw a 6% increase in price overall.

On Friday, Benzinga reported that the community burned 58,316,838 SHIB tokens, adding to the total of over 410 trillion SHIB burnt since August 2020. The burning activity decreased by 20.77% compared to the previous week.

Despite a sharp 36% dip from its December 2024 high of $0.0000328 to around $0.0000158, SHIB is showing signs of a bullish trend. It’s trading at prices not seen since February and has broken above several resistance levels.

Price predictions are optimistic. Benzinga expects an average price of $0.00006 in 2025, with a possible peak of $0.0001. If that happens, it would mean a 532% increase, potentially outperforming Cardano’s forecasted gains.

One Angle On The Remittance Market

RemittIx (RTX) is quickly becoming the altcoin to watch as it obliterates meme coins with its presale performance. So far, the crypto startup has raised over $15 million and seen its price increase by a massive 400%.

The new crypto is set to launch the next stage of the PayFi revolution with its advanced technology that enables users to convert over 40 cryptocurrencies into fiat.

This allows for fast and direct fiat money transfers to any bank account in the world, all without any hidden fees. Thanks to a flat fee model, the full amount sent arrives in the beneficiary’s account.

For businesses, RemittIx offers the Pay API, which empowers businesses to accept crypto payments easily, with the flexibility to accept payments in any of 30+ fiat currencies.

Merchants also have complete control over when they wish to cash out their crypto payments, supported by 50+ crypto pairs.

From freelancers working remotely to global online shops, RemittIx is bringing the benefits of crypto to everyday life, and investors are taking notice.

The RTX presale has already raised over $15 million, and more than two-thirds of the tokens have been sold.

With the massive $194 trillion cross-border payments market waiting to be disrupted and such strong early demand for RemittIx, the potential for RTX is enormous.

Even a 10x gain from here would see it outperform many of the top altcoins on the market, but with the rate of adoption so far, 50x or 100x gains could be more realistic.