Altcoin
SHIB Burn Rockets 7400% As Exec Burns 80M Coins, Shiba Inu Price to $0.0004?
Market watchers are once again eyeing Shiba Inu price optimistically, primarily attributable to the latest SHIB burn data. Notably, burn statistics on Saturday indicated a whopping 7,400% uptick in the crypto’s weekly burn rate, as roughly 2 billion coins were destroyed. In turn, crypto enthusiasts are eyeing a potential $0.0004 target for the renowned dog-themed meme coin ahead amid a bullish Q4 market.
SHIB Burn Surges 7,400% Weekly As Kaaldhairya Burns 80M Coins
According to the official tracker Shibburn on X, the SHIB weekly burn soared 7,418% on Saturday, November 30. This colossal surge comes against the backdrop of 1.93 billion coins removed from the meme token’s market supply. Notably, with the massive burn surge weighing in, the dog-themed meme coin‘s total supply at the time of reporting was evaluated as 589.26 trillion tokens.
For context, the meme coin’s token burn mechanism helps in reducing the asset’s excessive market supply by transferring it to a null address. These tokens can never be retrieved, thereby delivering a considerable blow to the crypto’s supply. In turn, market watchers anticipate a bullish effect on the asset’s price, reflecting the law of supply and demand.
Intriguingly, it’s also worth mentioning that Shiba Inu exec Kaaldhairya appears to have contributed significantly to the burn rate surge mentioned above. Kaal took to X as of November 30, revealing that the ecosystem’s semi/auto burns have been working for months, burning over 300M tokens to date. Moreover, the exec said, “I just burned 80M+ SHIB a few minutes ago and enjoyed the cool animation at the end.” While these statements solidified optimism about the meme coin’s long-term prospects, they also cleared any misconceptions about the auto-burns designed to reduce the excessive supply.
Additionally, the same exec also revealed that the recent maintenance on Shibarium is complete and that the bridge is now fully functional. This development has further solidified the meme coin’s leading stance in the broader sector. On the other hand, Kaaldhairya also revealed that the team is “still working on upgrades for the burn contracts,” igniting additional discussions over future price movements.
What’s Ahead For SHIB Price?
At the time of reporting, SHIB price traded at $0.00002593, down marginally by 0.06%. Its intraday low and high were $0.00002551 and $0.00002633, respectively. Besides, the monthly chart for the coin shows a 39% uptick, underscoring optimism in light of the SHIB burn surge and community advancements.
Simultaneously, a Shiba Inu price analysis by CoinGape Media revealed that the token eyes potential gains ahead, although the chances of a $1 target this year remain slim. Besides, if the coin sustains its monthly bullish momentum, it could break the resistance of $0.00003. This bullish drive could further pave the path for a $0.0004 price target in turn.
Meanwhile, rising Shiba Inu whale accumulations have added to market optimism surrounding the coin’s price action ahead. CoinGape Media reported a major whale to have continued bagging the token amid a bull market. Simultaneously, crypto market participants continue to monitor the meme-themed coin for further price action shifts in light of optimistic statistics.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
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.
Solana (SOL) price has been under pressure recently, leading to concerns about a potential downtrend against Bitcoin (BTC). On the SOL/BTC price chart are signs that the cryptocurrency could be forming a “death cross,” a pattern that suggests a further decline in price.
This follows a period of weak performance for Solana relative to Bitcoin, sparking discussions on whether the altcoin can recover or continue to underperform.
Will Solana Form a Death Cross Against Bitcoin?
Over the past few months, Solana price has experienced a sharp decline when compared to Bitcoin. As of mid-April 2025, Solana is priced at 0.00158 BTC, down by 23% from earlier in the month. This comes after a significant 54% drop since January, showing a steady loss in value relative to Bitcoin.
The recent drop in Solana’s price has raised concerns among traders and analysts. Moving averages, which track price trends over time, have been narrowing, which is often a precursor to a potential death cross formation.
Specifically, the 23-day moving average is approaching the 200-day moving average in the weekly chart, a key level for technical analysts. If it crosses below the 200-day average, it would officially signal a death cross. This could indicate a further decline in Solana’s price against Bitcoin.
Solana’s Recent Performance and Market Trend
Nonetheless, Solana has had some strength, which can be attributed to the recent launch of Solana ETFs in Canada.
At the same time, institutional investors’ attention contributed to the altcoin’s success in surpassing the performance of numerous other cryptocurrencies, including Bitcoin. Solana delivered a 10.5% return within a week, while Bitcoin delivered a 1.8% return in the same time frame.
Nonetheless, the recent excitement about Solana appears to have subsided with the lessened market movements. Analysts like Ali Charts are now analysing whether the recent strength was just a blip in the charts or the first sign of an actual trend reversal to $65.
SOL/BTC Technical Patterns and Support Levels
Based on the current technical perspective, Solana’s price trend against Bitcoin has established the “Falling wedge” chart. This pattern is normally noticed during the consolidation phase, and the break above the upper trend line is usually interpreted as a signal for a bullish move.
The declining moving averages indicate that Solana may continue to decline against Bitcoin and possibly test lower supports despite the SOL/ETH ratio recording its highest weekly close
At present, the price is almost at the apex of the wedge pattern, meaning that it can break soon. If the price surmounts the resistance level at around 0.0018BTC, it will possibly lead to a bullish run and might even regain the value of 0.001895BTC for Sol. However, if the price cannot hold its support at 0.0014 BTC, then it may decrease even lower.
Solana’s performance against Bitcoin will be very significant over the next few weeks. The potential death cross and the support and resistance levels on the chart pinpoint that Solana might experience a difficult time moving forward. If the trend persists, the altcoin could potentially drop as low as 0.001 BTC—a price point that, when measured in dollar terms, is below $100.
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
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.
American asset management company Canary Capital has taken a new leap with a new filing for a staked Tron ETF product. Known as the pioneer of some of the most renowned altcoin ETF products, this new Tron ETF has further placed the firm at the forefront of the exchange-traded fund drive.
The Canary Capital Staked Tron ETF
According to the prospectus released by the firm, the new product is dubbed the Canary Staked TRX ETF. The firm is yet to reveal the trading platform the product will trade on, however, it confirms it will provide exposure to the price of Tron.
Based on the pricing data offered by Coindesk Indices, Canary Capital said it will rely on this to establish the Net Asset Value (NAV) for the product. This latest filing comes barely a month after the asset manager filed for Pengu ETF with the US Securities and Exchange Commission (SEC).
This is a breaking news, please check back for updates!!!
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
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.
Based on historical data, July could be the next bullish month for the XRP price, which continues to consolidate amid this crypto market downtrend. Despite the market downturn, crypto analysts like CasiTrades are confident that the altcoin could still reach a new all-time high (ATH) in this market cycle.
Historical Data Points To July Being The Next Bullish Month For The XRP Price
Cryptorank data shows that July could be the next bullish month for the XRP price. This is based on the fact that the altcoin has recorded significant gains in each of the last five Julys.
Unlike July, April to June have been mixed for XRP over the last five years. For April, the last three out of five months have been bearish for the altcoin, although it recorded a 174% gain in April 2021.
For May, three out of the last five months have been bearish for the XRP price, although it recorded meagre gains in May 2023 and 2024. Meanwhile, June has been completely bearish for the altcoin, as it recorded monthly losses in the last five months.
It is worth mentioning that four out of the five monthly gains for XRP in July have been double-digit gains. As such, Ripple’s native crypto could again record double-digit gains this coming July.
Interestingly, crypto analyst Egrag Crypto predicted that XRP could reach double digits by its July 21 cycle peak. He alluded to the altcoin’s previous bull runs as to why July could mark this cycle’s peak. The analyst believes the Ripple price could reach $27 by then.
Analysts Argue XRP’s Consolidation Could End Soon
Amid this historical data, crypto analysts Dark Defender and CasiTrades have suggested that the XRP price consolidation could end soon. In an X post, Dark Defender stated that the altcoin’s consolidation is nearing an end and that he believes this is the final consolidation of the monthly structure.
Once this consolidation is done, the crypto analyst remarked that market participants can expect the Wave 5, which will send Ripple’s native crypto to new highs. He highlighted $2.22 and $2.30 as the major resistances to watch out for, while $1.88 and $1.63 are the major support levels. Meanwhile, the targets on this Wave 5 up are $3.75 and $5.85, which will mark a new ATH for the altcoin.
As CoinGape reported, crypto analyst CasiTrades also predicted that the XRP price could soon reach $6 as Wave 2 correction nears its end. The analyst also raised the possibility of the altcoin rallying to as high as $9.50 and $12 if it reaches the 2.618 and 3.618 Fibonacci extension levels, respectively.
However, there is still the possibility of the XRP price dropping below the $2 level before it rallies to new highs. Egrag Crypto warned that Ripple’s native crypto could still drop to as low as $1.4 in the event of a major liquidation.
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.
Is Solana Forming a Death Cross Against Bitcoin?
TRUMP Meme Coin Ignores $307M Unlock, Bearish Trend Holds
Solana (SOL) Price Rises 13% But Fails to Break $136 Resistance
Pi Network Roadmap Frustrates Users Over Missing Timeline
MEME Rallies 73%, BONE Follows
Canary Capital Files For Staked Tron ETF
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
-
Ethereum18 hours agoEthereum Fee Plunges To 5-Year Low—Is This A Bottom Signal?
-
Market21 hours agoEthereum Price Fights for Momentum—Traders Watch Key Resistance
-
Altcoin21 hours agoExpert Predicts Pi Network Price Volatility After Shady Activity On Banxa
-
Market16 hours agoBitcoin Price Gears Up for Next Leg Higher—Upside Potential Builds
-
Market19 hours agoIs XRP’s Low Price Part of Ripple’s Long-Term Growth Strategy?
-
Altcoin19 hours agoShiba Inu Follows Crypto Market Trend With “Shib Is For Everyone” Post, What’s Happening?
-
Bitcoin17 hours agoWhat Good Friday Options Expiry Means for Bitcoin & Ethereum
-
Market23 hours agoSui Meme Coins Surge With Rising DEX Volumes
✓ Share: