Shiba Inu burn rate surged 582%, removing 16.7 million tokens from circulation.
The Shiba Inu community has been watching SHIB’s price move up and down recently, mainly due to global tensions like the Iran-Israel conflict. But even with all the uncertainty, SHIB has jumped 9%, sparking a big question among holders: Can SHIB really hit $0.00003?
According to crypto analyst Jonathan Carter, this target is not unrealistic, especially considering the growing market interest and increasing token burn rates.
One major reason for the growing hope is the bullish sentiment in the altcoin market. With Bitcoin recovering and now holding steady above $105K, many altcoins, including SHIB, have gained almost 10%.
SHIB’s strong community also plays a big part in keeping the momentum alive.
Another strong factor is Shiba Inu’s impressive token burn activity. In the last 24 hours alone, SHIB’s burn rate surged by 582%, removing over 16.7 million tokens from circulation. This shrinking supply could lead to more upward pressure on price.
Reaching the $0.00003 mark won’t happen overnight. According to analyst Jonathan Carter, Shiba Inu needs to follow a few key steps to hit that target.
As of now, SHIB is trading around $0.00001170, showing a 9% increase in the last 24 hours. On the daily chart, Carter notes that SHIB is forming a descending channel pattern. After falling from the upper resistance line, the price is now testing a key midline support zone.
If SHIB manages to hold and bounce from this zone, Carter suggests it could climb to $0.00001250 first — and from there, a strong momentum push might carry it past $0.00003.
This would be nearly a 3x move from current levels, which is why many see this as a major bullish setup, especially with SHIB continuing to hold key technical zones.
Backing this technical optimism is some massive on-chain activity. Data from IntoTheBlock shows that large Shiba Inu holders, wallets owning between 10 trillion and 100 trillion SHIB, went on a major buying spree.
These whales purchased an eye-popping 10.4 trillion SHIB tokens in a single day, worth about $114 million. That makes it the biggest daily accumulation SHIB has seen in the last five months, and the second-largest for all of 2025 so far.
If momentum builds and retail investors follow the whales, SHIB could enter a new bullish phase. A confirmed breakout from the descending channel might be the green light needed for that push toward $0.00003.
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