Shiba Inu Eyes $0.00003: Can the Memecoin Triple in Value?
Shiba Inu (SHIB) has posted a notable 9% gain in the last 24 hours, sparking fresh optimism among holders. The rally comes amid global geopolitical tensions and a recovering broader crypto market, with Bitcoin now steady above $105,000. Analysts and on-chain data suggest SHIB could be gearing up for a significant breakout, with a potential target of $0.00003 in sight nearly a 3x move from current levels.
At the time of writing, SHIB is trading around $0.00001170. According to crypto analyst Jonathan Carter, the memecoin is forming a descending channel on the daily chart and is currently testing a midline support zone. A successful bounce from this level could lead SHIB to the $0.00001250 mark, with a potential breakout pushing it beyond $0.00003 in the coming weeks.
Also Read:- XRP Price Slips Below $2 Amid Geopolitical Tensions and Market-Wide Pressure
One key driver behind this momentum is Shiba Inu’s aggressive token burn activity. Over the past 24 hours, SHIB’s burn rate spiked by 582%, permanently removing more than 16.7 million tokens from circulation. A reduced supply could help support the price if demand remains strong.
Additionally, whale activity has surged. Data from IntoTheBlock reveals that large holders wallets owning between 10 trillion and 100 trillion SHIB accumulated a staggering 10.4 trillion SHIB tokens in a single day, valued at over $114 million. This marks the biggest single-day whale accumulation in five months, and the second-largest in 2025 so far, signalling growing confidence from institutional investors.
Also Read:- Why Pi Network May Never Reach $10
While risks remain in a volatile market, SHIB’s technical setup, rising burn rate, and strong whale backing present a bullish outlook. A breakout from its current chart pattern could serve as a catalyst for the next leg higher, potentially taking SHIB to the $0.00003 milestone a level many in the Shiba Inu community are now eyeing.
Disclaimer: This post is for general informational purposes only. It does not constitute financial advice. Please consult a qualified professional before making financial decisions.
