Shiba Inu Price Holds Firm as Burn Rate Surges By 1,900%; What Next for SHIB?

Highlights:

• Shiba Inu price consolidation continues near $0.00001167 support zone.
• SHIB burn rate jumped by 1,954% in 24 hours.
• A breakout above resistance may follow with rising volume trends.

Shiba Inu price, a popular meme-based coin, trades in a narrow range while testing key resistance levels. SHIB has shown bullish momentum recently, with its price holding above the $0.000011 support zone. Despite some recovery signs, the token continues to trade sideways, struggling to build stronger upward momentum.

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Dogecoin (DOGE) and Pepe (PEPE), among other notable meme coins, experience minor increases within their market value. The market witnessed SHIB trading $137.13 million over the latest 24-hour period while its value rose 3.04%.

The crypto market worldwide recorded a 1.97% increase which lifted its total value to $2.68 trillion. The overall crypto trading volume experienced a reduction of 6.41% which ended at $70.13 billion. The market shows conflicting indications as Bitcoin (BTC) continues above $85,000 but Ethereum (ETH) remains above $1,600.

Shiba Inu Consolidates Near Key Support Zone

The market expert observed Shiba Inu exhibiting robust defense at $0.00001167. SHIB maintains tight price consolidation within its essential key support zone as the current price chart shows. 

During the past four days the token successfully held its position at $0.00001167 creating a solid base near its local low. The short-term market stability becomes evident through the ongoing stable bid-ask span which ranges from $0.00001167 to $0.00001168.

The descending resistance line in the graph shows an ongoing topside pressure against the asset. This support level exhibits ongoing integrity, suggesting that investors might be planning to accumulate SHIB. Market analysts predict that the extended price stability will result in an upward price rise when trading volume rises. 

#SHIB is at a good level to take risks!

After consolidation at the main support level, I expect a new uptrend wave!🚀 pic.twitter.com/DYv0u77tBs

— CRYPTO SHERIFF (@Gem_Sheriff) April 16, 2025

Shiba Inu Burn Rate Surges By 1,900% with Massive Token Destruction

According to Shibburn data, Shiba Inu’s burn rate surged by 1,954.32% in the past 24 hours, resulting in the removal of 17,618,497 SHIB from circulation. The latest figures show that over 410.74 trillion SHIB have been burned from the initial supply of nearly 1 quadrillion. The total supply now stands at 589.25 trillion, while the circulating supply is approximately 584.39 trillion SHIB. 

Around 4.85 trillion SHIB are currently staked. This sharp rise in burn rate comes after several large transactions, including a single burn of 16.68 million SHIB three hours ago and a major burn of 60.45 million SHIB recorded two days earlier.

Will SHIB Break Past $0.000015 or Slide Below $0.00001?

The SHIB price increased by 0.57% in the past 24 hours, reaching $0.00001193. SHIB remains just below the $0.000012 resistance level, which has held firm since early April. 

Technical indicators remain neutral but slightly positive. The MACD line has crossed above the signal line, showing a small bullish divergence. However, the histogram remains close to zero, indicating weak momentum. Meanwhile, the RSI stands at 52.11, suggesting SHIB is in neutral territory with no signs of overbought or oversold conditions.

If Shiba Inu price breaks above the $0.000012 mark, the next targets could be $0.00001350 and $0.00001500. These levels mark key horizontal resistances observed in previous price actions. On the downside, if SHIB loses the $0.000011 support, the next visible floor lies at $0.00001. A breach below that level could expose the asset to additional selling pressure.

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