Shiba Inu Token Burn Drives SHIB Value Above $0.00003, Analysts Forecast Potential for Additional Zero Reduction by 2025

Although November expectations for Shiba Inu were modest, overshadowed by its predecessor Dogecoin and a lackluster “Uptober,” the SHIB price seems to be realigning with optimistic forecasts extending into 2025.

The token has achieved a significant 20.97% increase today, bringing SHIB back into focus and raising optimistic expectations for December, culminating in a total gain of 84.81% over the past months.

Indeed, Shiba Inu has surged to the forefront of the meme coin sector, with a remarkable 325% rise in trading volume today, approaching $6.5 billion.

SHIB Price Analysis: Is Shiba Inu Set to Eliminate Another Zero by 2025?

The 400% increase in SHIB burns and a valuation of $0.00003 is merely the start, as indicated by a recent post on X from well-known analyst Oscar Ramos.

The analyst highlights that market conditions are becoming increasingly favorable for SHIB. He pointed out that the token has sustained robust support levels despite recent market volatility.

SHIB / USDT 4H chart, flag pattern breakout. Source: Binance.

These support levels have created a bullish flag pattern, with today’s breakout representing a peak moment. If fully realized, the pattern suggests a near-term price target of $0.000035, reflecting an 8.76% rise from current levels.

However, the Relative Strength Index (RSI) at 80 indicates overbought conditions, which raises the likelihood of a correction.

On a broader scale, Ramos observes that while Dogecoin holds a $22 billion market cap, SHIB’s $10 billion valuation implies potential for growth based on historical trends.

For the rest of 2024, he advises caution regarding expectations of eliminating another zero within the next 60 days, viewing this as a more realistic goal for 2025.

Nonetheless, the combination of technical strength and upcoming market catalysts, such as the FOMC meetings and CPI data releases, suggests that another rally could be on the horizon.

This Early Opportunity Could Be the Better Play

While another rally in SHIB’s price is undoubtedly enticing, it is the new meme coins that are currently leading the gains in this cycle.

As the sentiment of a “meme coin supercycle” gains traction and coins like $ACT and $Pnut see rapid ascents, strategic investors are turning their attention to newer, high-potential low-cap meme coins.

Among these, Catslap ($SLAP) emerges as a notable competitor to Popcat, Mogcat, and Mew.

Catslap transcends being just a meme coin; it offers an engaging gamified experience that invites its holders to compete, clicking to boost their country’s score and ascend the Slapometer.

Next burn milestone: 25,000,000 slaps
Get slappin: https://t.co/WIxjg08wEb pic.twitter.com/XQyziaon4U

— CatSlap (@CatSlapToken) November 30, 2024

This aligns with what analyst Murad Mahmudov describes as a paradigm shift towards “movement coins” that are set to transform the crypto landscape.

These community-driven meme coins possess significant growth potential, fostering ideologies and deep engagement. This may explain its immediate success, achieving a market cap of $26.5 million thus far!

And the growth does not end there. $SLAP also offers a passive income opportunity, providing a 40% APY to its staked investors. While the market experiences fluctuations amid Bitcoin’s recent volatility, Catslap investors have been enjoying steady gains!

Join the CatSlap community on X and Telegram to stay informed about the latest updates.

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The post Shiba Inu Burns Push SHIB Price Over $0.00003, Analysts Predict Another Zero Going Down by 2025 appeared first on Cryptonews.