Shiba Inu (SHIB) surged 7,000,000% in 2021, dubbed the 'Dogecoin Killer,' but its price is currently down 80% from its all-time high. Recently, SHIB's price has fluctuated between $0.0000126 and $0.0000130, facing challenges despite the increase in burn rate. Analysts are cautious about SHIB's future, doubting its ability to return to prior highs.
Shib emerged with a shocking 7,000,000% rise in 2021, becoming a household name and was labeled the 'Dogecoin Killer' cryptocurrency. However, the narrative has changed. Shib's trading price is over 80% below its all-time high, dividing investors on whether Shib is ready for another spectacular run or if it will be even more disappointing in 2025.
Bullish prediction: Interruption from its merging phase
Recently, experts pointed out that Shiba Inu is consolidating between $0.0000126 and $0.0000130. Shib's current price is $0.00001376, down 6.33% in the past 24 hours. However, the related price changes indicate minimal volatility. Typically, such prolonged consolidation is expected to precede dramatic movements, with market observers anticipating a significant breakout. If Shib can maintain support above $0.000012 and leverage its upward momentum for mid-2024, it could push towards $0.000015–$0.000018.
Burn rate and Shibarium development optimism
The foundation of the Shiba INU ecosystem is being cleverly strengthened. According to recent data, active users on Shibarium surged by 4,101%, while the burn rate of wet drugs increased by 1,500%. The circulating supply has significantly decreased, with 410.75 trillion tokens out of the initial 999.98 trillion burned. If Shib holds crucial support at $0.000011 under more general altcoin optimism and retail traffic continues, reaching $0.000015 by early May becomes a reasonable target.
Bearish prediction: Decline in burn rate based on chain data
Despite occasional hopeful moments, Shib still faces significant challenges. In the past 24 hours, only 11.1 million tokens were burned, and according to chain statistics, it sharply dropped by 41.97% daily. The price of Shiba Inu also fell nearly 9% in April, reflecting the market volatility influenced by ongoing U.S. trade wars. As the efforts to revitalize fatigue gain immense momentum, maintaining optimistic expectations becomes increasingly complex.
Exaggerated target prices cause issues
Absurd claims, such as a widely circulated post predicting SHIB would reach $0.02886, a 169,000% increase – sparked discussions on social media. Achieving this price would require an unimaginable $130 trillion market cap, surpassing the total market cap of Bitcoin and Ethereum. Analysts quickly dismissed these predictions as unrealistic, requiring massive supply or fundamental changes. If Shib cannot firmly reclaim $0.000012, it risks sliding back to the support zone of $0.00000950.
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