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Can Shiba Inu Price Hit $0.01 As SHIB Burn Rate Rockets 500%?

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4 weeks ago

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In an astounding development, Shiba Inu’s burn rate has skyrocketed by nearly 500% over the last 24 hours. This has sparked widespread optimism, with analysts reinforcing their prediction that the Shiba Inu price will hit the coveted $0.01 target.

Let’s unveil SHIB’s surprising surge in the burn rate and its potential impacts on the Shiba Inu price.

Shiba Inu Price Targets $0.01 As Burn Rate Skyrockets

According to SHIBBURN, a platform that tracks the burn rate of Shiba Inu, SHIB has marked a dramatic spike in burns over the last 24 hours. Destroying over 14,052,230 SHIB tokens, the burn rate has increased by nearly 500% in a single day.

As of SHIBBURN’s latest data, the burn rate of Shiba Inu has surged by a whopping 495.55%. With this latest burn, the total number of Shiba Inu tokens permanently removed from circulation has reached 410,745,386,439,403. Now, the circulating supply has reached 584,352,017,567,164.

This significant development has invoked speculations of a possible Shiba Inu price rally, with many focusing on the ambitious $0.01 mark.

How Will the Burn Rate Hike Impact Shiba Inu Price?

Notably, tokens are burned to permanently remove them from circulation, reducing the total number of tokens. This process has a two-fold impact on the crypto market.

When Shiba Inu tokens are destroyed, it creates a scarcity of tokens, which, in turn, increases demand. This scarcity effect and the subsequent demand hike could theoretically push the token’s value higher. This could theoretically push the token’s value higher as their scarcity could increase demand.

In addition, a consistent burn rate can also have a profound impact on investor sentiment. When a platform regularly burns tokens, it demonstrates an active management of supply. This can foster confidence among investors, as they perceive the project as responsibly managing its token economy.

Thus, with the recent 500% hike in the SHIB burn rate, analysts and enthusiasts remain confident that the Shiba Inu price could hit the long-anticipated $0.01 range.

Is $0.01 Target on the Horizon?

As of press time, SHIB is valued at $0.00001276, down 1.28%. Despite a weekly surge of 1.76%, the Shiba Inu price has seen a massive dip of 17% over the past month.

Analysts remain bullish about Shiba Inu’s potential bullish rally. For instance, ZAYK Charts asserted that SHIB is breaking out of a falling wedge pattern, signaling a bullish move. As per his predictions, Shiba Inu will see a staggering 81.63% surge, hitting a critical point of $0.00002500.

Similarly, the analyst known on X as CW shared a short-term target for SHIB. According to him, Shiba Inu’s move past the falling wedge pattern signals its target of $0.000034.  According to the Shiba Inu price prediction, SHIB may reach $0.0000143 in 2025.

Meanwhile, $0.01 remains the long-expected target for the Shiba Inu price. If the SHIB burn rate rises, the token could attain the goal.

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Nynu V Jamal

Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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DOGE Whale Moves 478M Coins As Analyst Predicts Dogecoin Price Breakout “Within Hours”

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1 minute ago

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April 16, 2025

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A DOGE whale has drawn the crypto community’s attention following a recent transfer involving millions of the meme coin. This development comes as crypto analyst Master Kenobi predicted that a Dogecoin price breakout will happen “within hours.”

DOGE Whale Moves 478 Million Coins As Dogecoin Price Eyes Breakout

Whale Alert data shows a DOGE whale moved 478 million coins worth $72.9 million from an unknown wallet to another unknown wallet, hinting at active accumulation from this investor. Other whales also look to be actively accumulating, as crypto analyst Ali Martinez revealed that DOGE whales bought over 800 million coins in 48 hours.

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This accumulation comes amid Master Kenobi’s prediction that a Dogecoin price breakout will happen within hours. His accompanying chart highlighted an ascending rectangle, from which the breakout could occur. The analyst further remarked that the breakout will also likely surpass the downtrend line.

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The crypto analyst stated that this is arguably the most significant event for DOGE this year so far. He added that the Dogecoin price’s peak is anticipated around late May to early June, aligning with the BNB price and other major altcoins.

Meanwhile, his accompanying chart also showed that Dogecoin could rally to as high as $0.8 if it reaches the upper boundary of this rectangular channel.

Martinez also recently predicted that the top meme coin could soon reach $0.29. He stated that price needs to hold the key support at $0.13 and sustain a break above $0.17 to reach this level.

More Bullish Outlook For DOGE

In a series of X posts, crypto analyst Trader Tardigrade provided a bullish outlook for the Dogecoin price. In one post, he stated that DOGE is breaking out of a falling wedge pattern on the 1-hour chart. He added that DOGE’s Relative Strength Index (RSI) also shows a breakout after hitting the oversold zone.

In another post, the crypto analyst stated that Dogecoin is forming a prolonged symmetrical triangle. Trader Tardigrade remarked that the longer the consolidation within the triangle, the stronger the momentum builds, leading to a higher pump for the DOGE price.

His latest X post also showed that the Dogecoin price was eyeing a rally to the $0.8 target, just like Master Kenobi predicted.

 

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Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Analyst Reveals Why The Solana Price Can Still Drop To $65

Published

2 hours ago

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April 16, 2025

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Solana price could be heading toward a major drop, according to crypto analyst Ali. In a recent analysis, Ali suggested that SOL might be retesting the breakout zone from a right-angled ascending broadening pattern.

Analysis Points to Downside Potential For Solana Price

Ali’s SOL analysis expects the price to drop to $65. This bearishness comes after a period of price weakness for Solana. SOL’s price fell by 1.2% in the last 24 hours, according to recent figures.

The prediction arrives at a time for the Solana network when Canada will launch Solana ETFs today after regulatory approval by the Ontario Securities Commission (OSC).

Ali’s technical analysis focuses on a right-angled broadening ascending pattern that has appeared on Solana’s price chart. SOL, according to the analyst, is re-testing the breakout pattern area, and this could be an indication of more downside action if the level fails to act as support.

This bearish outlook is shared by some other analysts in the crypto space. SatoshiOwl noted that Solana is not looking good and that it is breaking down from trendline on 1h. However, the analyst cautioned that confirmation was still needed from 1-hour and 4-hour candle closings. The analyst suggested that Solana might retest $120 first before possibly moving higher.

Not all analysts share this bearish view, however. Trader David identified what he described as bullish signs for SOL as this channel continues to move upward. He pointed out that after a 33% correction, Solana is now on a strong support level. He expressed hope that the token will reach new heights again.

Canadian ETF Launch Could Provide Institutional Access

Despite the bearish technical outlook from some analysts, Solana is experiencing a potentially positive development on the institutional front. The Ontario Securities Commission (OSC) has approved multiple ETF issuers to list Solana-based products in Canada, including Purpose, Evolve, CI, and 3iQ.

This regulatory clearance sets the stage for Solana ETFs to come to market. This may make the cryptocurrency available to a new generation of institutional investors who would rather have regulated investment products rather than direct exposure to cryptocurrency. The timing of this news is interesting, as it is happening during technical uncertainty in the price action of Solana.

Bloomberg ETF analyst Eric Balchunas provided some background on the upcoming launches. He clarified that Canada is preparing spot Solana ETFs to launch this week after the regulator waved the green flag to multiple issuers. He added that the ETFs will also offer staking through TD.

But the initial market reaction to this news has been muted, with the Solana price showing little positive momentum in response to the much-awaited launch of the ETF. CoinGape has also released an extensive Solana prediction for April 2025.

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Vignesh Karunanidhi

Vignesh Karunanidhi is a seasoned crypto journalist with nearly 7 years of experience in the cryptocurrency industry. He has contributed to numerous publications, including WatcherGuru, BeInCrypto, Milkroad, and authored over 10,000 articles

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Mantra (OM) Price Pumps As Founder Reveals Massive Token Burn Plan

Published

5 hours ago

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April 16, 2025

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The Mantra (OM) token price has surged after founder JP Mullin announced plans for a massive token burn. Mullin clarified that he intends to burn his personal team token allocation and implement a “comprehensive burn program for other parts of the OM supply.”

OM Pumps After Founder’s Burn Announcement

The OM token, which had experienced a major price drop over recent weeks, jumped from a low of $0.5115 to as high as $0.8706 following Mullin’s statement on X.

This announcement comes as OM has seen price drops of 87.0% over the past week. CoinGape has released a Mantra OM price prediction for April 2025, which could give you an idea of how the token can perform this month.

Mantra has initially shelved 300 million OM tokens for its team and core contributors. This accounts for 16.88% of the token’s nearly 1.78 billion total supply. These tokens are currently locked and were scheduled for a phased release between April 2027 and October 2029.

The planned burn could possibly take out a huge quantity of these tokens from the market for good. A decentralized vote could decide if all 300 million team token issuance needs to be burnt, as proposed by Mullin.

The announcement has been followed by various reactions from the Mantra community. Some members of the community believed that Mullin’s commitment was a positive development for token valuation, while others were concerned about having long-term issues.

Crypto Banter founder Ran Neuner warned against the move: “Burning the incentive may seem like a good gesture but it will hurt the team motivation long term.”

Mantra Refutes Allegations Following Price Collapse

Mullin’s token burn announcement comes at a difficult time for the project. The company has vehemently denied reports that it holds 90% of OM token supply. It has also rejected allegations of market manipulation and insider trading submitted by some community members.

Mantra explained that the latest price drop of OM occurred due to “reckless liquidations” and not due to anything the team had done. The recent history of the token indicates the size of this drop, with the charts reflecting a nearly 90% decline in value over the past month.

Major cryptocurrency exchanges OKX and Binance both experienced major OM trading activity immediately before the token’s collapse. However, both platforms have denied any wrongdoing in relation to the price crash. Binance mentioned that the crash was mainly due to cross-exchange liquidations.

They attributed the collapse to tokenomics adjustments that were made during October 2024 and abnormal market volatility that ultimately led to high-volume cross-exchange liquidations on April 13.

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Vignesh Karunanidhi

Vignesh Karunanidhi is a seasoned crypto journalist with nearly 7 years of experience in the cryptocurrency industry. He has contributed to numerous publications, including WatcherGuru, BeInCrypto, Milkroad, and authored over 10,000 articles

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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