Shiba Inu News Today: Token Burning, Whale Activity, and Bullish SHIB Price Prediction

Shiba Inu (SHIB) is once again making headlines. Despite recent price consolidation, the token’s on-chain activity tells a different story. From an enormous spike in token burning to a dramatic surge in whale movements, the SHIB ecosystem is showing signs of renewed energy. 

Meanwhile, analysts remain cautiously optimistic, offering a bullish SHIB price prediction while tracking its expanding presence across blockchain networks.

Shiba Inu Token Burning Surges After Base Blockchain Launch

The most striking development is the recent SHIB token burn. According to data from Shibburn, over 600 million SHIB tokens were burned in a single transaction, pushing the daily burn rate up by more than 374,000%. 

This event coincided with Shiba Inu's integration into Coinbase’s Base blockchain, an Ethereum Layer-2 network.

The team described this Base expansion as the "burn engine" of the ecosystem. They believe increased activity on Base will drive more burns and help create long-term scarcity. By moving to Base, Shiba Inu aims to improve its DeFi functionality and reduce gas fees, potentially attracting more users to the SHIB ecosystem.

Despite these developments, the Shiba Inu price today remains relatively stable, trading at around $0.00001353 with a market capitalization of $7.97 billion. Though down 13.1% over the past week, some investors view the recent token burn as a sign of long-term price strength.

Read also: Is SHIB Preparing for a 10x Surge?

Whale Buy SHIB Token Activity Surges by 8,866%

While the price of SHIB remained steady, its whale activity told a more dramatic story. On July 28, large SHIB holders moved nearly 800 billion tokens, a stunning 8,866% increase from the day before. 

According to IntoTheBlock, this activity mostly came from wallets held by exchanges like Binance, Coinbase, and Upbit.

The significance of this spike lies not in a market panic but rather in strategic moves. Many analysts suggest this could be retail investors withdrawing tokens from centralized platforms to personal wallets, a bullish signal. 

Such moves often indicate that holders are planning to stake, store, or use SHIB in decentralized finance applications rather than sell.

This movement may not have affected the price immediately, but it sets the stage for a possible supply shift in the near future. Less SHIB on exchanges could reduce available supply and lead to increased price pressure if demand rises.

Read also: Shiba Inu Price Nears Breakout as $50M in Shorts Face Liquidation

SHIB Price Analysis

Technically, SHIB has been consolidating just below a key resistance level at $0.00001402, according to TradingView's July 26 analysis. The immediate support lies at $0.00001299. 

If the price can break through resistance levels at $0.00001405 and $0.00001432, a stronger uptrend could begin.

However, the current pattern also suggests a potential short-term bearish move before any major breakout. While consolidation may frustrate short-term traders, it often signals an upcoming shift in market direction.

With the SHIB price prediction remaining cautiously optimistic, analysts are watching closely to see if whale movements and ecosystem growth can translate into upward price momentum.

Shiba Inu’s broader ecosystem is evolving rapidly. Its Layer-2 network, Shibarium, now processes over 4.5 million daily transactions. The development of Shib OS, a decentralized operating system, is also progressing, hinting at deeper utility beyond meme coin status.

Still, this technical progress has not yet pushed SHIB back to its previous all-time high of $0.000080. 

Read also: Is SHIB Becoming Centralized Because of Whales?

Market Sentiment and What Lies Ahead

The Shiba Inu community remains hopeful that ongoing developments and strong user engagement will eventually be reflected in the token's price. Exchange withdrawals and increased token burns are traditionally seen as bullish indicators. 

However, broader market conditions and investor sentiment will ultimately decide the near-term direction.

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FAQ

Can Shiba Inu coin reach $1 cent? 

Most experts believe SHIB could realistically reach $0.00005 to $0.001 over time, depending on factors like token burns, how much it's used, and market growth. While this is far from $1, it still offers good profit potential for those who bought early. Patience and project development are key.

Does Shiba Coin have a future? 

Based on predictions, the value of SHIB may increase by +5% and reach $0.000018 by 2030. This suggests a continued future for the coin.

Can Shiba hit 3 cents? 

For Shiba Inu to reach 3 cents, its value would need to increase by more than 107,239%. This is a very long-term possibility, potentially happening by 2050.

Who owns the most Shiba Inu? 

The largest holder of Shiba Inu is a "dead wallet" containing tokens that have been permanently removed from circulation (burned). This wallet holds 41% of the SHIB supply. The second largest holder is an anonymous investor who owns 48 trillion SHIB, or 8% of the total supply.

Can Shiba Inu reach 50 paise? 

For Shiba Inu to reach 50 cents (which is equivalent to 50 paise if converted to Indian Rupees and then cents), its market value would need to grow astronomically. With over 549 trillion Shiba Inu tokens currently in circulation, reaching 50 cents would require a market cap of about $274 trillion, which is far larger than the entire current cryptocurrency market. This is considered highly unlikely.