Shiba Inu (CRYPTO: 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, now trading around $0.00001652, up 2.5% over the past day. Its 24-hour trading volume has also increased to $530 million, pushing its market cap closer to $10 billion. This places SHIB in 17th among all cryptocurrencies, highlighting the strong interest as traders keep an eye on the next big move. It has risen about 27% over the past month.
SHIB Burn Rate Soars 200,000%
On May 11th, Shiba Inu burn rate saw a massive 234,584% increase. 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 more interest in the memecoin.
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 here by 4x.
$SHIB (Shiba Inu) has been showing some notable strength, recovering nearly +30% in the past few days but this could be only a beginning! With a divergence hinting at an at-least 105% additional recovery and a breakout target that stands at $0.000081, Shiba can quadruple in price. https://t.co/TmrQuQ9lwW pic.twitter.com/qmdiWQ8C0O
— Javon Marks (@JavonMarks) May 11, operability
