Shiba Inu Coin (SHIB) Price Experiencing an Uptick Today, Up by 7% to Trade at $0.00001288

Shiba Inu Coin (SHIB) is experiencing an uptick in its price today. The meme coin is up by more than 7% and is trading at $0.00001288.

Shiba Inu (SHIB) price is up today. The meme coin is trading higher by more than 7% and is changing hands at $0.00001288.

After a difficult start to the year, meme coins appear to be staging a comeback. Since the beginning of 2025, the meme coin market has struggled, with the total market cap falling over 50% from its peak at the end of 2024.

Dogecoin (DOGE), the biggest meme coin by market cap, dropped around 20% in the past month, while other coins like FLOKI and PEPE also saw some sell-off pressure. However, DOGE has rebounded by 7% in the past 24 hours.

This signals a shift in momentum for the meme coin after a tough period. The recent gains come as data shows the market sentiment is shifting in favor of meme coins again.

One X (formerly Twitter) user shared an interesting chart of Shiba Inu, hinting at a possible “second wave” pump for SHIB. The chart shows the market appears to be recovering from the recent dip, which is causing excitement among investors.

Shiba Inu Chart Shows Hope For A Second Wave Pump As Market Recovers From Recent Downdraft

The world's second-largest cryptocurrency, Shiba Inu (SHIB), is showing signs of recovery after a difficult period for the token. Despite a recent downturn, the meme coin appears to be staging a comeback, with prices rising around 7% over the past 24 hours.

As the market recovers from the recent downturn, several technical indicators suggest that Shiba Inu could be due for a second wave pump. The coin appears to have found support at a key trendline, which could propel it towards new highs.

Shiba Inu has been struggling in recent months, with prices falling sharply from their peak at the end of 2024. The coin is down around 50% from its all-time high of $0.000023, which was reached in December 2024.

However, the tide appears to be turning for Shiba Inu. The coin has shown signs of strength in recent weeks, and several positive developments could lead to further gains for SHIB.

Shiba Inu Token Burn Rate Rises 30%

One positive catalyst for Shiba Inu is the increase in its token burn rate. Recently, the burn rate went up by 30%, now at 2.01 million, bringing the total number of burns to over 410 trillion.

This helps reduce the number of coins in circulation, which could help to increase the value of the token. In the past 24 hours, SHIB tokens worth over $1.4 million were burned by members of the community.

Shibarium TVL Up 24%

Activity on SHIB’s layer-2 network, Shibarium saw total value locked (TVL) rise by 24% in the last month to $2.5 million. ShibaSwap saw a 15% jump in TVL, while WoofSwap and ChewySwap grew by 22% and 20%, respectively.

These changes show more activity and interest in the Shiba Inu ecosystem, which could lead to further gains for the coin.

What’s Next For Shiba Inu Price?

Shiba Inu is currently trading within what technical analysts identify as a strong historical support zone, roughly between $0.000010 and $0.000012..

Historically, these levels have attracted noteworthy buying pressure, and at present, technical indicators are beginning to suggest a shift in momentum, hinting at the possibility of an upward move.

The last time SHIB touched this trendline was in 2023 and 2024, and after that, the price shot up. So, there’s a good chance SHIB will bounce back from this support and possibly retest the resistance at $0.000033, which would be a 165% gain from its current price.