Shiba Inu Price Forecast: SHIB Eyes $0.00002449 as TREAT Launch Excites Market

Highlights:

• Shiba Inu price has bounced off the multi-week $0.00002104 support
• Bounce triggered by broader market sentiment and new Shiba Inu meme coin
• FOMO around TREAT could push SHIB to new highs in the short term

Shiba Inu (SHIB) is in the green today, reflecting the return of bullish sentiment across the cryptocurrency market. On the same day that Bitcoin bounced off $91k to prices above $95k, Shiba Inu also turned green, with volumes surging by 20.74%. In the last 24 hours, Shiba Inu’s price has jumped by 4.81%, and it has been traded at $0.0000216.

Sentiment trackers are also turning positive for Shiba Inu price. In the last 24 hours, the CoinMarketCap sentiment tracker shows that the number of investors bullish on Shiba Inu currently stands at 89%. There are multiple factors that support a continuation of the momentum that Shiba Inu has built so far.

Shiba Inu Price Boosted by TREAT Meme Coin Launch and Airdrops

One of them is the fact that the Shiba Inu team is launching a new meme coin today. The meme coin is named TREAT and is aimed to increase efficiency on the Shiba Inu network. This is likely to trigger buzz in Shiba Inu, a big deal especially now that the cryptocurrency market is on a rebound. Hints at the buzz build-up is that major cryptocurrency exchanges such as KuCoin and MEXC have announced that they will be listing the new TREAT token.

🐾🚀💥#TREAT Launches in just a few hours and let’s celebrate this milestone by SMASHING the like button ❤️💥👊🏼

$SHIB #ShibArmy pic.twitter.com/hWEoYA5kgT

— Shiba Inu (@ShibainuCoin) January 13, 2025

Gate.io, a well-known exchange has already announced that it will have an airdrop for the new token. Through the airdrop, they will airdrop 1 million TREAT tokens to Shiba Inu holders. Similarly, KuCoin is set to do an airdrop of 3 million tokens, while Bitget is set to airdrop an impressive 87 million TREAT tokens. These airdrops have the chance to trigger an investor rush into Shiba Inu in the short term.

Shiba Inu Community Accelerates Token Burn

Besides the good news about a new Shiba Inu meme coin, the Shiba Inu community is accelerating token burns. The latest data shows that in the last 24 hours, there has been a 300% increase in Shiba Inu’s token burn. This accelerated token burn has seen 24.6 million SHIB tokens get taken out of circulation.

What’s most noteworthy about these burns is that two transactions accounted for most of it. One of these accounts took out 17.2 million SHIB from circulation, while the other got rid of 4.6 million Shiba Inu tokens.

Besides the 24-hour token burn, weekly token burns indicate that the Shiba Inu community has gotten rid of 89.1 million tokens. This is a surge in the token burn rate by 60% compared to a week earlier. The best part is that the Shiba Inu community wants even more aggressive token burns.

According to a Shiba Inu community poll on X, the community wants a 30% to 90% token burn of the total supply. Such prospects make Shiba Inu one of the top meme coins to watch going into the future.

Shibarium Another Option for Even More Token Burns

However, Shiba Inu founders are calling for tempered optimism when it comes to the token burns. That’s because, as Shytoshi Kusama has clarified, they do not control the Shiba Inu tokens in circulation.

Rather than only focusing on the token burns, Kusama pointed to Shibarium as a more logical approach to reducing the SHIB token supply. The consensus though is that SHIB supply will continue to decline whether it’s through burns or Shibarium.

Shiba Inu Price Gains Momentum as Bulls Eye Key Resistance Levels

Shiba Inu’s rising momentum is quite evident on the day chart. On this chart, Shiba Inu bears appear to have lost control at the $0.00002104 multi-week support.

With bullish sentiment on the rise, a rebound could be underway. Such a rebound would put the $0.00002449 weekly resistance in focus. A rally through this resistance could be see SHIB rally to $0.00002878 in the short term.