TLDR
- Shiba Inu burn rate jumped 10,845% in 24 hours with 9.5 million SHIB tokens removed from circulation
- Crypto analyst Javon Marks predicts 180% price rally to $0.000032 based on MACD bullish divergence
- SHIB price increased 3.66% to $0.00001186 following the burn activity
- Over 1.5 million on-chain wallets now hold SHIB, setting a new record
- Two centralized exchanges delisted SHIB tokens, but ecosystem team says not to worry
The Shiba Inu ecosystem experienced a massive spike in token burns while technical analysts point to potential price recovery ahead.
According to Shibburn data, the burn rate surged 10,845% in the last 24 hours. A total of 9,551,523 SHIB tokens were sent to inactive wallets, removing them from circulation permanently.
The burn mechanism serves as the ecosystem’s deflationary tool. By reducing the circulating supply, the community aims to create scarcity and drive up demand.
With the recent burn activity, the circulating supply now stands at 589,249,765,968,242 SHIB. Of this amount, 584,556,551,143,300 SHIB remains in circulation with the rest staked.
The price of SHIB responded positively to the burn activity. The token climbed from a low of $0.00001135 to $0.00001186, representing a 3.66% increase in 24 hours.
However, trading volume declined 21.67% to $83.93 million during this period. This suggests some traders remain cautious about the price reversal.
Technical Analysis Points to Bullish Signals
Crypto analyst Javon Marks provided a bullish outlook for SHIB price. He stated that the token has formed a clear bullish divergence with its Moving Average Convergence Divergence (MACD).
$SHIB (Shiba Inu) has confirmed a clear Bullish Divergence with its MACD and this points to a nearly 180% upside for prices back to $0.000032 and that may only be the start of a much larger positive reversal 𼅠pic.twitter.com/YmWAQbahKK
— JAVONâĄď¸MARKS (@JavonTM1) July 6, 2025
This technical pattern points to a potential 180% upside for SHIB to rally to $0.000032. Marks added that this may only be the start of a larger positive reversal for the meme coin.
His chart analysis showed that SHIB could hit this target between now and year-end. This would represent a change of fortune for the token, which has recorded a 45% loss year-to-date.
The token’s Relative Strength Index (RSI) has also risen above oversold territory. This development supports the recent price increase and is regarded as a bullish signal.
Long-term Price Targets Remain Ambitious
Marks remains confident that SHIB can rally as much as 600% in the long term. He maintains his $0.000081 target for SHIB, which would represent an over 609% increase from current levels.
The analyst sees potential for this target to be broken above, bringing $0.0001553 into play. However, he did not provide a specific timeline for when this rally could occur.
Ecosystem Developments Support Growth
The SHIB ecosystem continues to show signs of growth. A community member revealed that over 1.5 million on-chain wallets now hold the meme coin, with the number still rising.
This milestone represents record-breaking adoption for the token. The growing wallet count suggests increased interest in holding SHIB tokens.
For SHIB to continue its current rebound, the token must break resistance levels at $0.00001210 and $0.00001250. Breaking above $0.000013 would signal a stronger breakout.
Exchange Delistings Addressed
Two centralized exchanges recently delisted SHIB tokens from their platforms. Lucie, the ecosystem marketing lead, advised the SHIB community not to worry about these delistings.
She maintained that the centralized exchanges were being manipulative. Lucie insisted that the delisted tokens were not among the lowest-performing on the exchanges.
The marketing lead assured users that the team would continue building. She urged the community to depend less on centralized exchanges for trading.
At the time of writing, SHIB is trading at around $0.00001186, up over 3% in the last 24 hours according to CoinMarketCap data.
