SHIB Price Stabilizes, Trading at $0.00001303 as of Latest Reports

Shiba Inu's price has stabilized in recent days, trading at approximately $0.00001303 as of latest reports. This represents a modest recovery from its year-to-date low of $0.00001085 earlier this month.

Shiba Inu's price has stabilized in recent days, trading at approximately $0.00001303 as of latest reports. This represents a modest recovery from its year-to-date low of $0.00001085 earlier this month.

However, the meme coin remains about 62% below its November peak. This decline reduced its market capitalization from $19 billion to around $7.5 billion.

Recent developments have sparked renewed interest in the dog-themed cryptocurrency. SHIB community executive and marketing lead Lucie highlighted factors that could make Shiba Inu a candidate for an Exchange-Traded Fund (ETF).

According to Lucie, SHIB is available on more than 110 exchanges with 212 trading pairs. This includes all major crypto trading platforms.

"SHIB is listed on over 110 exchanges with 212 trading pairs—including all the major platforms. It's basically everywhere: easy to access, easy to trade.

Is SHIB good for an ETF? YES.

Will boomers invest in a 'doggy coin'? Also yes. Because SHIB isn't just a meme—it's decentralized, community-driven, and built to last," Lucie stated.

The ETF speculation comes amid broader market optimism around crypto-backed ETF filings. The US SEC recently acknowledged Grayscale's filing for a Dogecoin ETF.

Canary Capital has filed an S-1 for SUI ETF approval. There are also rumors about a potential BlackRock Dogecoin ETF filing.

Adding to investor optimism is an extraordinary surge in SHIB's burn rate. Recent reports by the StellarBurn.net account on Telegram highlight a staggering increase in the Shib burn activity.

A single wallet address (0x55b8979a8d79f2802c79ff5a5083a0d7fdc182e3) was responsible for burning 1 billion SHIB tokens in a 24-hour period.

The burn mechanism permanently reduces the circulating supply by sending tokens to a null address. After this massive burn event, the total circulating supply stands at approximately 584.35 trillion coins.

Shiba Inu Futures Open Interest Rises 3.5%

Market interest in SHIB derivatives has also increased.

Shiba Inu futures open interest rose by 3.5% to $121.69 million, with derivatives volume spiking 24% to $71.18 million.

Another point of interest is activity by large investors, also known as whales.

One previously dormant Ethereum whale has reportedly been accumulating billions of SHIB tokens.

The Mean Dollar Invested Age (MDIA) indicator has also risen to 82, up from the year-to-date low of 39. This suggests longer-term holding patterns among investors.

Several technical analysts have identified patterns that could suggest potential upward movement for SHIB.

The coin has formed a falling wedge pattern, often considered a bullish sign.

The Percentage Price Oscillator and Relative Strength Index have also tilted upwards. Some analysts have also identified a quadruple bottom at $0.00001235, which could indicate a price floor.

Price Predictions For SHIB

Analysts' price predictions for SHIB vary widely. More conservative estimates suggest it could reach $0.000013 by the end of 2025.

This would indicate modest growth from current price levels. However, more optimistic forecasts place price targets between $0.0000167 and $0.0000741.

Some analysts, bullish on SHIB's recovery, have identified a potential 500% surge to $0.000081. This prediction is contingent upon sustained token burns and positive market sentiment.

One analyst has made an even bolder claim that SHIB could eventually reach $0.01. This would represent an 83,000% increase from current price levels.

The analyst highlights SHIB's deflationary nature in contrast to Bitcoin's inflation, its utility through the Shibarium layer-2 network, and global partnerships as key factors.

However, several challenges remain for SHIB's price to recover significantly.

The cryptocurrency market is still highly volatile, and regulatory developments could impact investor sentiment.

Shiba Inu could also face competition from other meme coins, such as Pepe (PEPE) and Bonk Token (BONK), which could divert investment away from the dog-themed cryptocurrency.

Shibarium is still in the early stages of development, and it remains to be seen how successful it will be in expanding the Shiba Inu ecosystem.