TLDR

Table of Contents

Shiba Inu (SHIB) is trading at $0.0000128, up 0.57% in 24 hours, holding above key support between $0.0000126-$0.0000127
The token faces resistance at $0.0000130 level that has rejected price advances twice in recent days
Daily trading volume increased 6.32% to $146.88 million, showing growing market interest
SHIB burn rate dropped 89.46% with only 1.57 million tokens burned in the last 24 hours
Price predictions for 2030 range from $0.000005 to $0.000712, with a $10,000 investment today potentially worth $3,436 to $489,347

Shiba Inu (SHIB) Price: Token Holds Key Support as Bulls Defend Critical Level

Shiba Inu (SHIB) is trading at $0.0000128, reflecting a mild 0.57% increase over the past 24 hours. The meme coin has maintained its position above a crucial support zone between $0.0000126 and $0.0000127.

This support range has acted as a reliable floor during recent trading sessions. A brief dip toward $0.0000126 was quickly absorbed by buyers, indicating active demand at lower price levels.

The token briefly tested $0.00001305 but failed to sustain higher levels as momentum faded. Trading volume has increased by 6.32% to reach $146.88 million, suggesting growing market interest.

Technical indicators present a mixed picture for SHIB’s short-term outlook. The MACD has shown a minor bearish crossover, reflecting uncertainty in the current upward trend.

The Relative Strength Index (RSI) sits at 38.54, approaching oversold territory. A move above the 50-mark could signal renewed bullish momentum, while a drop below 30 may indicate further downside pressure.

Resistance Zone Challenges Price Advances

The key resistance band between $0.0000129 and $0.0000130 has rejected SHIB’s advance twice in recent days. A sustained break above $0.00001300 with strong volume could open the door for a rally toward $0.00001350.

If SHIB fails to hold the $0.00001265 level, analysts warn of a potential breakdown toward $0.00001200. This scenario could unfold if stop losses are triggered below current support levels.

Some traders point to an untouched demand zone below current prices. A dip into this area followed by liquidity building above could create conditions for a sharp reversal.

Token Burn Rate Declines Sharply

From a supply perspective, the Shiba Inu burn mechanism continues to remove tokens from circulation. However, the burn rate has slowed considerably in recent periods.

Over the last 24 hours, only 1.57 million SHIB tokens were burned, marking an 89.46% decline in the daily burn rate. Despite this slowdown, over 410 trillion tokens have been permanently removed from the total supply.

Around 4.75 trillion SHIB tokens are currently staked, demonstrating long-term confidence among holders. This staking activity helps reduce circulating supply and supports price stability.

Looking ahead to 2030, various analysts have provided price projections for SHIB. Changelly predicts the token could reach $0.000138, representing an 848.45% increase from current levels.

Finder-affiliated experts project SHIB could hit $0.0001971 by 2030, marking a 1,254% gain. Telegaon offers a more optimistic target of $0.000712, representing a 4,793% increase.

A $10,000 investment in SHIB today would purchase approximately 687.28 million tokens. Based on these projections, this investment could be worth between $94,845 and $489,347 by 2030.

ChatGPT provides a more conservative outlook with three scenarios. The bearish case sees SHIB at $0.000005, the average case at $0.00003, and the bullish case at $0.0001 by 2030.

At press time, Shiba Inu remains at $0.0000128 with bulls defending the crucial support zone between $0.0000126 and $0.0000127.

Stay Ahead of the Market with Benzinga Pro!

Want to trade like a pro? Benzinga Pro gives you the edge you need in today's fast-paced markets. Get real-time news, exclusive insights, and powerful tools trusted by professional traders: