Despite the ongoing market uncertainty, the SHIB memecoin has come under the limelight of the crypto space with its suspicious on-chain data. While the crypto market stumbles, the Shiba Inu price has added 10.81% to its valuation in seven days.
Furthermore, marketers are curious about questions like “Will SHIB rise back up?” and “Is this the right time to invest in memecoins?” In this write-up, we will uncover the on-chain sentiments and possible short-term SHIB price prediction to understand the price prospects of the second largest memecoin by market cap.
SHIB Burn Rate Soars Over 8000% Post Anonymous Wallet Burn!
According to the latest data from Shibburn (Shiba Inu burn tracker), an anonymous wallet “0x55B” transferred 1 billion SHIB tokens to the official burn address in a single transaction. Valued at $13,050, the SHIB price was exchanging hands at $0.00001305 at the time.
Moreover, as per Etherscan records, the same wallet burned 1 billion SHIB on 15th March 2025 (11 days ago), 1 billion SHIB on 07th August 2024, and 700 million SHIB on 10th February 2024. Despite a total of 3.7 billion Shiba Inu tokens, the wallet still holds 1 billion SHIB coins.
Shiba Inu Memecoin Displays Increased Wallet Transfers!
According to the latest data by Arkham, Shia Inu, the second largest memecoin by market capitalization has witnessed a massive spike in the trading volume over the past few hours. Notably, a large amount of SHIB tokens was transferred from Upbit to its hot wallet through medium-sized transactions.
Furthermore, this resulted in Shiba Inu becoming one of the top 20 cryptocurrencies on Upbit by trading volume over 24 hours. Reportedly, Upbit remains one of the largest holders of SHIB memecoins. As per statistics, its wallet “0x02E” holds approximately 47.11 trillion SHIB tokens worth ~$625.7 million. This sums up to a total of 4.71% of the total supply of the Shiba Inu Meme coin.
SHIB Price Records Neutral Action!
While the crypto community speculates this to be a potential dump-like situation, the price of SHIB memecoin has displayed a stable price action over the past day. Notably, this memecoin is currently exchanging hands at $0.00001368 (1.32% up from yesterday) with a trading volume of $195.47 million.
Moreover, this meme coin is trading at a discount of 84.49% from its all-time high (ATH) of $0.00008845 which it recorded on 28th October 2021. Considering the present market statistics, if the SHIB price successfully retests its $0.00001370, it could maintain its bullish presence and head toward its upper price range of $0.00001400.
Conversely, a sustained bearish influence could result in this memecoin retesting its immediate $0.00001330 support level. Furthermore, if the bears outrun the bulls, this could result in it plunging toward its lower support level of $$0.00001300.
Also Read: Shib Price Could Double as Majority Holders Control 73%
