TLDR
- Shiba Inu (SHIB) price is at $0.00001245-$0.00001250, up 20% from yearly low
- Burn rate surged 3,277% in 24 hours with 28.6 million tokens burned
- SHIB has formed a bullish double-bottom pattern at $0.00001080
- Whale holdings have decreased from 743 trillion to 735 trillion tokens
- Community is actively fighting against scams through education efforts
Shiba Inu’s price has been moving sideways in recent weeks, trading at $0.00001250 as of Monday morning. This represents a recovery of over 20% from its lowest point this year. The second-largest meme coin continues to draw attention as its burn rate gains momentum while whale holdings decline.
The SHIB token has formed what analysts describe as a double-bottom pattern at the $0.00001080 level, potentially signaling a bullish outlook for the token. This comes as the community intensifies its token burning efforts and pushes back against scams in the crypto space.
Burn Rate Accelerates
The Shiba Inu ecosystem has seen a dramatic increase in its burn rate. According to tracking data, over 28.6 million SHIB tokens were burned in a 24-hour period, representing a surge of 3,277% in the daily burn rate.
On Monday, the daily burn rate rose by over 65% to 17.72 million tokens. This ongoing reduction effort has brought the circulating supply down to 584 trillion tokens.
Over the past week, a total of 142.6 million SHIB have been burned, reflecting a 104.28% rise in weekly burn volume.
The ShibTorch platform has been instrumental in these burning efforts. Data from Shibarium Updates on April 19 showed that 881,353,310 SHIB tokens have been burned using this platform.
Major burns included over 16.6 million SHIB on April 18 and 14.5 million SHIB on April 14, contributing to a 5.40% increase in the weekly burn change.
Whale Activity Declines
While the burn rate accelerates, data shows that Shiba Inu whale volume has been declining this year. According to Santiment data, the supply held by whales has decreased from 743 trillion tokens in January to the current level of 735 trillion.
Further analysis reveals that the supply held by top addresses dropped to 618 trillion, down from this month’s high of 619 trillion. This trend suggests that large holders are selling their tokens as SHIB’s price continues to fluctuate.
This reduction in whale holdings could be seen as either a concerning sign of lost confidence or a positive move toward more distributed ownership, depending on market perspective.
Technical Analysis Shows Potential
From a technical standpoint, the Shiba Inu price has formed a double-bottom pattern at $0.00001080. This pattern consists of two bottoms and a neckline, with the neckline at $0.00003340—which would represent a potential gain of over 165% from current levels.
Another bullish indicator is the formation of a falling wedge pattern. This pattern is characterized by two falling and converging trendlines, typically resulting in a bullish breakout at their convergence point.
For confirmation of continued bullish momentum, traders are watching for SHIB to break above the $0.00001560 resistance level, which marks the highest point reached this month.
However, this bullish outlook would be invalidated if the price falls below the lower boundary of the double bottom at $0.00001080. If this occurs, the next support level to watch would be the psychological $0.000010 mark.
The current price of SHIB stands at $0.00001245, showing a 1.27% increase over the past day, despite the mixed signals from whale activity.
Community Fights Scams Through Education
Beyond price movements and token burns, the Shiba Inu community is actively working to combat scams. SHIB’s marketing lead, known as Lucie, recently highlighted the importance of education in fighting against crypto scammers.
In the state of trenches we’re living in, education is the only real weapon.
Scammers thrive on hype. They prey on the uninformed.Forget the trends. Forget the noise.
Only solid, time-tested investments will survive the storm.Learn. Research. Move with purpose.
No shortcuts…— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) April 19, 2025
Lucie emphasized that knowledge is the most effective defense against bad actors in the crypto space. She encouraged the SHIB Army to “learn, research, and move with purpose,” stressing that there are “no shortcuts in crypto, just strategy and strength.”
The SHIB team’s approach to handling FUD (fear, uncertainty, doubt) involves letting time and action speak louder than words. This strategy focuses on building a solid project rather than responding to every criticism or market fluctuation.
With its increasing burn rates and strong emphasis on community education, Shiba Inu appears to be positioning itself as more than just a meme coin. The ecosystem continues to evolve through its burning strategy, community engagement, and long-term vision.
As the SHIB community continues its burning efforts and educational initiatives, the token’s path forward will likely depend on both these internal factors and broader market conditions.
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