Shiba Inu Burns 57.2M Tokens, But Can It Bump the SHIB Price?

Shiba Inu, one of the most popular meme coins, has burned 57.2 million tokens, according to data from Shibburn.com. Can it bump the SHIB price?

Shiba Inu (SHIB), the self-proclaimed “Dogecoin (DOGE) killer,” has burned an additional 57.2 million tokens, according to data from Shibburn.com. While the burn contributes to the token's deflationary nature, its immediate impact on SHIB's price may be limited.

The burned tokens are valued at around $1258 at current prices, which seems insignificant compared to Shiba Inu's massive market capitalization of approximately $12.9 billion. Token burning is a strategy employed to reduce a cryptocurrency's total supply, increasing its scarcity and, theoretically, boosting its value.

However, the small-scale burn indicates that its direct impact on Shiba Inu's price trajectory will be minimal. But there's more to the story.

Shiba Inu's Community and Ecosystem Fuel Optimism

Shiba Inu has thrived as a speculative asset, largely due to its vast and active community. This participation has been critical to its survival in the volatile realm of meme currency.

Coinịptimism is also high among users on CoinMarketCap, with 89% of surveyed users bullish on the token, mostly driven by SHIB's continuing burns and the likely introduction of new projects in 2025. For example, lead developer Shytoshi Kusama has confirmed the forthcoming TREAT token and the launch of “SHIB: The Metaverse.” These initiatives are boosting SHIB's market profile and community engagement.

Potential for Parabolic Growth?

As we zoom out to analyze SHIB's potential for a parabolic rally, prominent crypto trader Astekz recently highlighted the token's “parabolic potential” based on its chart movements.

Similarly, another analyst, CryptoBull, predicted a probable breakout from a long-term downtrend that began in the 2021 highs. Shiba Inu's healthy environment is essential to these optimistic predictions. The token is integrated with a variety of utilities, including decentralized finance (DeFi) applications and NFT platforms, which provide real-world value to the SHIB token.

How High Could Shiba Inu Soar?

If SHIB manages to break over its previous all-time high of $0.000090 and enters price discovery, we could see the token multiply in value exponentially. According to Fibonacci retracement analysis, SHIB's market capitalization might rise by ten times from its current price, reaching over $150 billion. While these figures might appear astronomical, supporters contend that they are achievable if Bitcoin (BTC) reaches $200,000, which would propel its market value to roughly $4 trillion. Given its dominance in the meme currency category, many people find it believable that Shiba Inu's market capitalization would only be 4% of Bitcoin's under such circumstances.

SHIB Price Prediction – 2025

AnalystPlatform2025 Peak SHIB Price Prediction% Increase Over Current Price

Binance$0.000030006.61%

Changelly$0.00023372137.03%

Average Prediction$0.0000477269.67%

As we glance at analyst price predictions for 2025, the majority of platforms are predicting a much more conservative SHIB Price. Changelly is the most optimistic with a 137% SHIB price prediction increase in 2025, while Binance is predicting only a 6.61% increase over the current price.