Shiba Inu Targets $0.0000254 as Burn Rate Soars 48,000% and Whale Activity Surges

Shiba Inu’s price appears to be on track for $0.0000254, with a bullish double-bottom pattern forming on the chart amid a dramatic spike in token burns and a surge in whale purchases. On Tuesday, August 13, SHIB traded at $0.0000135, marking a 4.42% gain over the past 24 hours. This came alongside a staggering 48,000% increase in the burn rate and a 188% jump in large-wallet transactions. Together, these developments suggest SHIB could be headed toward its next target of $0.0000254.

Double Bottom Gives Bulls the Edge Price action since May 11 shows Shiba Inu has formed a double-bottom pattern, confirming strong support at $0.000010. This level has held for months, attracting buyers each time the price dips. Twice now, SHIB has bounced from this support and rallied sharply to $0.0000159, creating a neckline resistance. According to classic technical analysis, breaking through this resistance could trigger a 59% rally — precisely toward $0.0000254. Another bullish signal is the recent convergence of the 50-day and 150-day Simple Moving Averages (SMA). The last time this happened, SHIB climbed from $0.0000168 to $0.000033 in under two months. The Relative Strength Index (RSI) also remains in favor of the bulls, further strengthening the likelihood of reaching this target.

Token Burns and Whale Activity Accelerate Data from Shibburn shows that over 87 million SHIB tokens have been burned recently, representing a 48,000% surge in the burn rate. While this is a small fraction compared to the total supply of 589 trillion tokens, history shows that major spikes in burning often coincide with price rallies. Large holders are also stepping up. According to IntoTheBlock, whale transaction volume jumped from 1.28 trillion SHIB to 3.69 trillion SHIB in just two days — a 188% increase. This suggests whales are significantly increasing their exposure to Shiba Inu.

What’s Next? The short-term target is clear — a break above $0.0000159 could pave the way for a move toward $0.0000254. If the bullish chart pattern, rising burn rate, and growing whale activity persist, Shiba Inu could deliver even more impressive gains before the year ends.

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