Shiba Inu (SHIB) Price Soars 27% as Burn Rate Witnesses a 234,584% Rise

Shiba Inu has been relatively stagnant and moving sideways for the majority of 2025. But it has recently gained strength with a price rise.

Shiba Inu (SHIB) has been relatively stagnant and moving sideways for the majority of 2025. But it has recently gained strength with a price rise. The spike is largely attributed to a new trade deal announced by President Trump, which has boosted the market sentiment. The memecoin is back in the spotlight, trading around $0.00001652, up 2.5% in the past day. Its 24-hour trading volume has jumped to $530 million, pushing its market cap close to $10 billion. This puts SHIB in the 17th spot among all cryptocurrencies, reflecting a strong surge in interest as traders look for the next big move. It has increased about 27% in the past month.

SHIB Burn Rate Soars 200,000%

On May 11th, Shiba Inu burn rate witnessed a massive 234,584% rise. Around 19 million SHIB were burned, which contributed to the upward price pressure. According to data from Coinglass, the Open Interest has also surged to $263 million, signaling growing interest.

Technical Indicators Show Bullish Momentum

Data from TradingView shows that Shiba Inu’s RSI, Stochastic, and other oscillators are mostly neutral, while the Momentum and MACD show buy signals. Further, all key moving averages indicate a buy trend for the meme coin, which shows strong support for upward movement.

Analyst Javon Marks recently pointed out that Shiba Inu has bounced back nearly 30% in the past few days, and this could just be the beginning. He eyes a 105% rally with a breakout target at $0.000081. He further adds that the price could increase from 4x here.

NBA legend Scottie Pippen also believes that the altcoin season has begun and expects Shiba Inu to be one of the most bullish altcoins this season, while he also mentioned other altcoins like ETH, XRP, SOL, ADA, DOGE, and MOG.

FAQs

Why is SHIB up today?

SHIB is up today due to a sharp burn rate increase, bullish technicals, and positive sentiment from a major trade deal.

How much SHIB was burned today?

About 19 million SHIB were burned on May 11, causing a 234,584% spike in the burn rate.

What will be the price of Shiba Inu in 2025 and 2030?

By 2025, our price prediction forecasts that the Shiba coin price could be worth $0.00006392. With a potential surge, the price may go as high as $0.000321 by 2030.

Will Shiba Inu reach $1 in 2025?

As per our current price forecast, Shiba Inu can be bullish for the coming years but the jump to $1 seems a stretch.