- Shiba Inu’s token burns spiked 1,993%, removing over 10 million SHIB and boosting bullish sentiment.
- T. Rowe Price filed for a Shiba Inu ETF, signaling rising institutional interest in meme coins.
- Analysts say a breakout above $0.0000129 could send SHIB soaring toward $0.0000176.
Shiba Inu is heating up again after a stunning 1,993% spike in token burns wiped more than 10 million SHIB from circulation. The meme coin’s price climbed 2.33% to $0.00001011, hinting at renewed bullish energy across the community. What’s driving the excitement? A new ETF filing by T. Rowe Price — one that includes Shiba Inu alongside Bitcoin, Ethereum, and Solana — is giving the token fresh legitimacy in the eyes of traditional investors.
Chart Signals Point to a Reversal
Technically, SHIB’s price action is forming a textbook falling wedge — a setup that often precedes sharp bullish breakouts. Buyers have repeatedly defended the $0.0000097 support zone, showing resilience despite broader market pressure. Analysts now eye resistance levels at $0.0000111 and $0.0000129 as key breakout triggers. If SHIB clears those zones, it could easily rally toward $0.0000176, marking one of its strongest recoveries this year.
ETF Filing Boosts Institutional Confidence
T. Rowe Price’s filing for a Shiba Inu ETF is a game-changer for meme coins. By grouping SHIB with blue-chip assets like BTC and ETH, the firm signals growing institutional curiosity about community-driven tokens. The proposed ETF aims to outperform traditional crypto benchmarks, potentially bringing new liquidity and investor attention to the SHIB ecosystem. For a token born from internet culture, this marks a major leap toward mainstream credibility.
A Perfect Storm for a Year-End Rally
Between the massive token burn, strong technical setup, and ETF buzz, Shiba Inu may be setting the stage for a sustained comeback. On-chain data shows growing participation as holders double down on long-term conviction. If SHIB breaks above its wedge resistance soon, the next leg higher could take it into mid-$0.000017 territory — a move that would remind everyone why meme coins are never to be underestimated.
