SHIB burn rate spikes 69%, reducing supply and boosting its 2025 price target to $0.0000998
SHIB’s 130% price surge since December highlights growing market interest despite recent dips.
Shiba Inu trades at $0.00002401, with support at $0.00002288 and a market cap of $14.15B.
Shiba Inu (SHIB), the second-largest meme coin, dropped 6.30% in the past 24 hours after reaching a daily high of $0.0000261. SHIB’s downturn comes amid a broader crypto market plunge, with Dogecoin (DOGE) also falling 5.83%. But bullish predictions are surfacing for SHIB despite the lower price.
As per the data from CoinMarketCap, SHIB is trading at $0.00002401 after rebounding from its daily low of $0.00002282. While the digital asset is down 72.83% from its all-time high of $0.00008845 witnessed three years ago, a bullish prediction from analyst InvestingHaven on X (formerly Twitter) stated that the meme coin has the potential to skyrocket to $0.0000998 in 2025.
SHIB Burn Rate on the Rise
Meanwhile, data from Shiba Inu burn rate tracker Shibburn shows that in the past 24 hours, the SHIB token burn rate jumped 69.28% with 6.18 million tokens burned. Overall, 410 trillion SHIB …
The post Bullish Case for SHIB: Analysts Eye $0.0000998 Target by 2025 appeared first on Coin Edition.
