Shiba Inu Coin (SHIB) Stunning Comeback: Aiming for $0.0000998 in 2025, Is a Wealth Feast About to Begin?
In the cryptocurrency sector, the second-ranked meme coin—Shiba Inu (SHIB)—after touching a daily high of $0.0000261, experienced a 6.30% drop in the past 24 hours.
SHIB's decline corresponds with the overall plummeting trend in the cryptocurrency market, even Dogecoin (DOGE) fell by 5.83% during the same period.
However, despite the current price being relatively low, bullish predictions about SHIB continue to emerge.
The trading price of SHIB rebounded from a daily low of $0.00002282 to $0.00002401.
Although this digital asset has dropped 72.83% compared to its historical high of $0.00008845 set three years ago,
in the past 24 hours, the burn rate of SHIB tokens surged by 69.28%, with a total of 6.18 million tokens destroyed. Overall, out of its total supply, 410 trillion SHIB tokens have been destroyed.
Generally, the more SHIB tokens that are burned, the greater the likelihood of a significant price increase.
Currently, Shiba Inu Coin (SHIB) has a market capitalization of $14.15 billion, and since December 2023, its price has seen an increase of 130.01%. As it stands, it remains one of the better-performing assets in the market. However, looking at the relative strength index (RSI) in the daily chart below, which shows a value of 40.61, this indicates that bears are currently controlling the price trend.
