- Shiba Inu Gains Momentum Amid Market Rally: Shiba Inu (SHIB) rose 2.5% in the past 24 hours to $0.00001652, driven by renewed market interest following a trade deal announcement by President Trump, with trading volume spiking to $530 million and market cap nearing $10 billion.
- Massive Burn Rate Surge: On May 11, SHIB’s burn rate skyrocketed by 234,584%, with 19 million tokens burned, tightening supply and contributing to price pressure as Open Interest also surged to $263 million.
- Bullish Outlook as Altcoin Season Begins: Analyst Javon Marks eyes a potential 105% rally to $0.000081, supported by rising momentum indicators and buy signals, while NBA legend Scottie Pippen sees SHIB as one of the top altcoins for the upcoming season.
Shiba Inu (SHIB) has spent most of 2025 in a sideways drift, but that might be changing. The memecoin has suddenly gained traction, with a 2.5% rise in the last 24 hours, now trading around $0.00001652. The spike follows a new trade deal announcement by President Trump, which has boosted overall market sentiment.
SHIB’s 24-hour trading volume has surged to $530 million, pushing its market cap close to $10 billion and propelling it to the 17th spot among top cryptocurrencies. Over the past month, SHIB is up by about 27%, as traders eye the next big move.
SHIB Burn Rate Spikes Over 200,000%
On May 11th, Shiba Inu’s burn rate exploded, jumping a staggering 234,584%. Around 19 million SHIB tokens were burned, tightening supply and adding some upward price pressure. According to Coinglass data, Open Interest has also surged to $263 million, indicating a renewed interest in SHIB among traders.
Technical Indicators Show Bullish Momentum
Technical analysis is starting to lean bullish. Data from TradingView shows SHIB’s RSI and Stochastic indicators sitting mostly neutral, but the Momentum and MACD are flashing buy signals. Additionally, key moving averages are aligning in favor of further upside.
Crypto analyst Javon Marks noted that SHIB has already bounced back nearly 30% in recent days, and he believes this could just be the start. He’s eyeing a breakout target of $0.000081, a potential 105% rally from current levels.
Altcoin Season on the Horizon?
Even NBA legend Scottie Pippen is weighing in on crypto. He’s called the start of an altcoin season and expects Shiba Inu to be one of the strongest performers, alongside other popular names like ETH, XRP, SOL, ADA, DOGE, and MOG.
For now, SHIB is holding steady above $0.000016, but with the burn rate soaring and market interest picking up, the memecoin could be setting up for another explosive move.
