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Shiba Inu SHIB/USD continues to attract attention as its burn mechanism drives supply reduction, sparking optimism among traders despite subdued broader market activity.
Cryptocurrency SHIB/USD continues to be in the spotlight as its burn mechanism drives a reduction in supply, sparking optimism among traders despite a broader market slowdown.
Trader’s Take: Crypto trader InvestingHaven has shared their 2025 price prediction for SHIB, suggesting a potential high of $0.0000998 and a low of $0.0000234.
"While the journey to these targets could be volatile, it aligns with broader market dynamics. Patience could pay off for SHIB holders," the trader added.
In another development, trader Cantonese Cat has highlighted that Shiba Inu is currently testing key weekly support levels.
$SHIB testing weekly Ichimoku cloud support pic.twitter.com/ZtWmcRtMh3
The Statistics: Data from Shibburn reveals a 4,766% increase in burn rates over the past 24 hours, with 1.97 million SHIB removed from circulation. Shibariumscan reports consistent burns of 4.69 million SHIB in the same timeframe.
IntoTheBlock data shows a 50% decline in Shiba Inu's large transaction volume and 9.8% growth in daily active addresses. Transactions greater than $100,000 narrowed from 289 to 264 in a single day.
Community Corner: The Shiba Inu ecosystem's new meme coin, Shifu, has a total supply of 100 billion tokens, out of which 30% is allocated for a community airdrop.
The remaining 40 billion tokens will go to the "liquidity and public pre-sale" section, 20 billion will be added to the treasury, and 10 billion will be used for marketing initiatives.
Shiba Inu's marketing lead, Lucie, highlighted that the Shifu presale managed to collect 1,023 ETH in about 42 minutes, indicating strong demand.
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