Despite Contrasting Signals, Shiba Inu (SHIB) Moves Sideways

Shiba Inu, the second-largest meme coin, has been moving sideways in recent weeks despite showing signs of recovery. Currently trading at $0.00001250

Shiba Inu (CRYPTO: SHIB) has been displaying strength despite recent market trends, with the second-largest meme coin now showing signs of recovery.

The token, currently trading at $0.00001250, has risen over 20% from its yearly lows, catching the attention of investors and analysts alike.

Despite the recent price action, new data reveals that SHIB’s whale presence has been steadily decreasing throughout 2025.

As of Wednesday morning, the supply of SHIB held by whales, or large investors, stands at 735 trillion tokens, which is down from 743 trillion in January.

Further analysis shows the supply held by top addresses has fallen to 618 trillion, compared to 619 trillion earlier this month. This trend suggests many whales are selling their SHIB holdings as the token’s price remains below previous highs.

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While whale activity has decreased, another factor impacting SHIB’s price is its circulating supply, which continues to shrink thanks to the impressive burn rate.

According to recent reports, the daily burn rate soared by over 65% on Monday, with 17.72 million SHIB tokens being burned.

Even more strikingly, Shibburn, which tracks real-time SHIB burns, reported that 28,627,668 SHIB were burned in a single 24-hour period, showcasing a massive 3,277.11% surge in the daily burn rate.

Over a seven-day period, a total of 142,626,991 SHIB tokens were burned, reflecting a 104.28% rise in weekly burn volume. The ShibTorch platform alone has helped burn 881,353,310 SHIB tokens.

These burns are part of the community’s ongoing effort to reduce supply and potentially boost SHIB’s price in the long term. The token’s circulating supply now stands at 584 trillion, down from its original supply.

From a technical analysis perspective, SHIB’s price chart has formed a giant double-bottom pattern at $0.00001080. This pattern consists of two bottoms and a neckline at $0.00003340, which sits 165% above current levels.

Another bullish indicator is the formation of a falling wedge pattern with two converging trendlines. This pattern typically signals a possible bullish breakout at the convergence point.

For confirmation of a bullish trend, traders are watching for SHIB to break above $0.00001560, which marks the highest level reached this month. However, a drop below $0.00001080 would invalidate this outlook, with $0.000010 becoming the next support level to keep an eye on.

Despite the current challenges, some experts remain optimistic about SHIB’s long-term prospects. A recent report by Finder projected that the meme coin could reach $0.0001971 by 2030 and $0.0008543 by 2035.

Bitget CEO Gracy Chen predicts SHIB price could hit $0.0000600 by year-end 2025, while Ronen Cojocaru of 8081 Inc projects a price of $0.0000743, implying over 500% upside potential.

However, not all analysts share this optimism. John Hawkins from the University of Canberra expects SHIB to drop to $0.00001 as hype around meme coins fades.

Comparing the trend to the NFT market decline, Hawkins predicts a bleak outlook for the token in the coming months.

As the meme coin hype lessens and the market becomes more rational, we can expect to see SHIB fall further, perhaps to $0