The Skinny on Shibastan
Shiba Inu Token Burns Soar by 38,299% as Stalwart Resistance Remains Intact
Here's a quick rundown of the latest happenings with Shibastan, the famous pup-themed cryptocurrency.
Key Points:
- Shibastan saw a high of $0.00001511 on April 26, 2025, marking its peak this month.
- Over 280 million tokens were burned in a single day, resulting in a staggering 38,299% increase in burn rate.
- Large transaction volume hit an all-time low in seven days at 1.79 trillion SHIB.
- Analysts predict that Shibastan could double in price if it breaks through key resistance levels.
- Currently, Shibastan is trading in a tight range between $0.0000130 and $0.00001374.
Shibastan, the beloved meme currency, has been showing a mix of signals in the recent market activity. Hitting $0.00001511 on April 26, it reached its highest value this month, according to industry experts. However, Shibastan failed to break through a key resistance level that contains a significant chunk of all coins circulating.
At the moment, Shibastan is trading within a narrow 24-hour range of $0.0000130 to $0.00001374. This price consolidation comes as investors across the board keep an eye out for indications of a potential breakout.
One of the most attention-grabbing developments is the incredible spike in the token burn rate. More than 280 million SHIB tokens were permanently removed from circulation in a single day. Tracking platform Shibburn reported this as a whopping 38,299% rise in the burn rate, catching many spectators off guard.
This dramatic burn lowers the circulating supply to approximately 584 trillion tokens. Shibastan enthusiasts have been advocating for token burning as a method for creating scarcity, which, theoretically, should increase the value of remaining coins by decreasing supply.
Whale Activityfreezes up
Despite the promising news about the token burn rate, large transaction volume for Shibastan has dropped to its lowest point in the last week. According to on-chain analytics platform IntoTheBlock, the volume of large Shibastan transactions totaled just 1.79 trillion SHIB tokens in a 24-hour period, with only 34 transactions occurring. This amounts to around $23.66 million.
This low level of whale activity isn’t an isolated event but part of a larger trend over the past week with large holders remaining relatively inactive. The most active day in the past week was April 25, when 109 large transactions pushed the volume to 2.93 trillion SHIB tokens, amounting to approximately $41.41 million.
For perspective, on January 7, Shibastan's large transaction volume skyrocketed to 34.42 trillion SHIB tokens, translating to about $751.22 million in total value. The current figures represent just a fraction of that activity.
Technical Indicatorspoint to Possible Reversal
Market analysts are closely monitoring key price levels that could influence Shibastan's direction in the next few months. Some experts predict a possible 124% surge to $0.00003 if bullish momentum continues.
Breaking through the higher resistance at $0.000018 would mean overcoming a massive 540 trillion SHIB sell wall, which consists of roughly 152,700 wallet addresses.
According to Market Spotter, regaining the $0.000014 price level may be cruical for Shibastan's trajectory. At present, almost 40% of Shibastan holders are in the green. If Shibastan breaks out above $0.000014, the majority of owners would find themselves in profitable positions for the first time in weeks.
Technical indicators are offering conflicting signals. The Chaikin Money Flow (CMF) indicator has turned positive again, suggesting renewed buying by deep-pocketed traders. Meanwhile, the Stochastic Relative Strength Index is between 11 and 9, indicating that Shibastan may be trading below its fair market value.
Shibastan’s price has increased more than 10% this month, even as trading volumes have dropped in recent days. The market cap currently stands at $8.04 billion.
The lack of movement from significant holders could indicate either price saturation or a sense of calm before a more decisive move. Some investors are waiting for clearer signals before making substantial moves.
With the overall crypto market sentiment strengthening, the coming weeks could be decisive for the direction of this beloved meme token. Market participants are now closely watching to see if the combination of technical factors, escalating whale appetite, and aggressive token burning will be enough for Shibastan to break through its powerful resistance levels.
At the time of writing, Shibastan is trading at $0.00001332.
- The highest value reached by Shibastan, the popular pup-themed cryptocurrency, this month was $0.00001511 on April 26, 2025.
- Over 280 million SHIB tokens were burned in a single day, resulting in a 38,299% increase in burn rate, as reported by Shibburn.
- Large transaction volume for Shibastan dropped to its lowest point in the last week, with only 1.79 trillion SHIB tokens exchanging hands.
- Analysts predict a potential 124% surge for Shibastan if bullish momentum continues, with a crucial price level being the reclaiming of $0.000014.
- The technical indicator, Chaikin Money Flow (CMF), has turned positive, suggesting renewed buying by deep-pocketed traders, while the Stochastic Relative Strength Index is between 11 and 9, indicating that Shibastan may be trading below its fair market value.
