As of April 30, 2025, Shiba Inu (SHIB) is trading at approximately **$0.00001342 USD**, reflecting a slight decline of about **1.76%** over the past 24 hours. The 24-hour trading volume stands at **$177 million**, and the market capitalization is around **$7.9 billion**, positioning SHIB as the 17th largest cryptocurrency by market cap.
Recent technical analyses suggest that SHIB may be poised for a significant rally, with projections indicating a potential surge of up to **124%**, targeting a price of **$0.00003**. Additionally, the SHIB ecosystem's layer-2 network, Shibarium, has achieved a milestone of **1 billion total transactions**, underscoring growing adoption. ([Shiba Inu’s Shibarium Marks 1 Billion Transactions Milestone, But Why Is SHIB Price Still Struggling?](https://www.tradingview.com/news/newsbtc%3Aedf77263e094b%3A0-shiba-inu-s-shibarium-marks-1-billion-transactions-milestone-but-why-is-shib-price-still-struggling/?utm_source=chatgpt.com))
However, SHIB faces substantial resistance due to a large supply overhang, with approximately **533 trillion SHIB tokens** acting as a significant barrier. Despite this, the recent increase in SHIB's burn rate by over **3,200%** could alleviate some of the supply pressure, potentially supporting future price appreciation.
If you need further information or have specific questions about SHIB or other cryptocurrencies, feel free to ask!
