- Analysts project a $0.0000236 target for Shiba Inu in May.
- Shibburn rate spiked to 37,937% on Wednesday.
- SHIB’s price surged 4.5% following the latest Shibburn exercise.
Shiba Inu (SHIB) analysts have predicted a potential rally for the Ethereum-based memecoin, projecting that the digital asset could surge to 0.0000236 in May 2025.
The analysts expect a notable recovery to trigger more bullish momentum and mark a comeback for the flagship meme coin.
Massive SHIB Burn Event Spikes Rate by 37,937%
SHIB’s latest positive outlook follows a significant Shibburn event that saw Shiba Inu achieve a five-digit spike in burn rate, leading to the removal of millions of SHIB tokens from circulation.
According to an onchain tracker, the Shiba Inu team destroyed 280,097,384 SHIB tokens on Wednesday, April 30, 2025. Notably, the latest exercise caused a 37,937% spike in Shiba Inu’s burn rate, triggering massive bullish sentiment in the meme coin’s ecosystem.
Related: Meme Coins Surge: Can Dogecoin and Shiba Inu Hit New Highs in Upcoming Weeks?
It reduced SHIB’s circulating supply to approximately 584.4 trillion tokens, highlighting the Shiba Inu team’s resolve to pursue its target of driving the meme coin’s value higher by creating scarcity.
Price Reaction Muted So Far; $0.0000236 Target Significance
Although the Shiba Inu community considers the latest move significantly bullish, the digital asset has yet to reflect the expected bullish effect outstandingly. However, SHIB has shown early signs of a bullish trajectory after rising from a $0.00001280 low on Wednesday to trade for $0.00001336 in the early hours of Thursday, reflecting a 4.5% rally in less than 12 hours.
For context, the referenced $0.0000236 landmark for SHIB represents a crucial point in the crypto token’s historical performance from 2024. Reaching that level from SHIB’s current price would mirror last year’s rally, which saw SHIB gain 145.2% in a bullish movement. To repeat this move would flip Shiba Inu’s outlook, generate significant bullish sentiment, and position the meme coin for more upside movement.
Market Catalysts Needed for Major SHIB Rally
In the meantime, it is worth noting that such outstanding moves happen on the back of recognized catalysts, of which Shiba Inu does not boast one at the moment.
Related: Don’t Miss This: Shiba Inu (SHIB) Gears Up For Big Move As BTC Climbs
However, the increasing investors’ interest in the crypto market and the potential change in the overall market direction could provide a tailwind to support the analysts’ prediction for SHIB.
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