Shiba Inu (SHIB) analysts have predicted a potential price increase for the Ethereum-based memecoin, expecting that this digital asset could soar to $0.0000236 by May 2025.
Analysts expect a significant recovery to create greater bullish momentum and mark the return of this leading meme coin.
The large SHIB burn event increased the rate by 37.937%.
The latest positive outlook for SHIB comes after the important Shibburn event when Shiba Inu achieved a five-digit surge in burn rate, resulting in the removal of millions of SHIB tokens from circulation.
According to an on-chain tracking tool, the Shiba Inu team burned 280,097,384 SHIB tokens on Wednesday, April 30, 2025. Notably, the latest activity caused Shiba Inu's coin burn rate to spike by 37.937%, creating strong bullish sentiment within the ecosystem of this meme coin.
This reduces the circulating supply of SHIB to about 584.4 trillion tokens, highlighting the determination of the Shiba Inu team in pursuing the goal of enhancing the value of this meme coin by creating scarcity.
Price reaction has been quiet so far; a meaningful target is $0.0000236.
Although the Shiba Inu community views the latest move as a significant price increase, the digital asset has yet to prominently reflect the anticipated price effect. However, SHIB has shown early signs of an upward trajectory after rising from a low of $0.00001280 on Wednesday to $0.00001336 early Thursday morning, reflecting a 4.5% increase in less than 12 hours.
To understand better, the benchmark of $0.0000236 for SHIB represents a significant point in the historical performance of the cryptocurrency token from 2024. Reaching that level from SHIB's current price would reflect last year's price surge when SHIB rose 145.2% in a bullish move. Repeating this move would reverse Shiba Inu's outlook, creating significant bullish sentiment and positioning this meme coin for further price increases.
A market catalyst is needed for a major price increase of SHIB.
Meanwhile, it is noteworthy that such prominent moves occur based on recognized catalysts, of which Shiba Inu currently has none.
However, the growing interest of investors in the cryptocurrency market and the potential to change the overall market direction may create momentum to support analysts' predictions for SHIB.
