$SHIB coin update
Here's a 24-hour update on Shiba Inu (SHIB) based on recent information as of May 23, 2025:
Price Movement: SHIB is trading around $0.00001470 to $0.00001551, with a market cap of approximately $8.68B to $9.18B. It reached a high of $0.00001605 early Friday but saw a slight downturn due to market profit-taking, sliding below key averages with a 1.30% to 2.73% drop in the last 24 hours. Despite this, SHIB is up 14% from its recent low of $0.0000143.
Market Sentiment: Sentiment on X is mixed. Some posts are bullish, citing SHIB's recent 36% weekly surge and technical signals like a falling wedge breakout, suggesting potential for a 105% recovery or even a $0.0001 target. Others express concern over a 79.89% drop in the burn rate, indicating subdued sentiment around its deflationary strategy.
Key Developments:
A significant transfer of 121,956,346,694 SHIB (valued at ~$1.93M) left Coinbase to an unidentified address, hinting at whale activity.
Whale accumulation since January 2025 has reached 530 trillion SHIB tokens, potentially tightening supply.
Shibarium updates are fueling optimism, with price predictions targeting $0.0000153 by year-end. A "golden cross" signal suggests a possible 32% breakout, though critical support at $0.00001408 is being watched.
Price Predictions: Analysts forecast SHIB trading between $0.000009948 and $0.00001971 in 2025, with an average price around $0.0000160. Some predict a $0.00003 target if bullish momentum continues, while others see a potential new all-time high of $0.000095 if Bitcoin's rally sustains. However, a negative ROI of -19.4% is noted for May 2025, reflecting short-term bearish pressure.
Technical Outlook: SHIB’s recent 4x trading volume spike and strong accumulation signal resilience, but it struggles to hold momentum in a volatile market. The weekly chart shows bullish patterns, but a downturn threat looms if support levels break