Shiba Inu analysts target $0.0000236 after 280 million tokens are burned

Analysts of Shiba Inu (SHIB) have predicted a potential bullish trend for the memecoin based on Ethereum, anticipating that this digital asset could soar to 0.0000236 by May 2025. Analysts expect that a significant recovery will create greater bullish momentum and mark the return of this top memecoin. The large SHIB burn event increased the rate to 37.937%. The latest positive outlook for SHIB comes after the important Shibburn event as Shiba Inu achieved a five-digit spike in its burn rate, resulting in the removal of millions of SHIB tokens from circulation. According to an onchain tracking tool, the Shiba Inu team burned 280,097,384 SHIB tokens on Wednesday, April 30, 2025. Notably, the latest activity caused Shiba Inu's coin burn rate to surge by 37,937%, creating a strong bullish sentiment in the ecosystem of this memecoin. This reduces the circulating supply of SHIB to about 584.4 trillion tokens, highlighting the determination of the Shiba Inu team in pursuing the goal of enhancing the value of this memecoin by creating scarcity. Price reaction has remained silent until now; A meaningful target is $0.0000236 Although the Shiba Inu community sees the latest move as a significant bullish trend, the digital asset has yet to prominently reflect the expected bullish effects. However, SHIB has shown initial signs of a bullish trajectory after rising from a low of $0.00001280 on Wednesday to $0.00001336 early Thursday morning, reflecting a 4.5% increase in less than 12 hours. To understand better, the reference point $0.0000236 for SHIB represents a significant point in the historical performance of the cryptocurrency token from 2024. Reaching that level from the current price of SHIB would reflect last year's bullish move, when SHIB increased by 145.2% in a bullish move. Repeating this move would reverse the outlook for Shiba Inu, creating significant bullish sentiment and positioning this memecoin for further bullish moves. A market catalyst is needed for a major bullish run of SHIB. Meanwhile, it is noteworthy that such prominent movements occur based on recognized catalysts, of which Shiba Inu currently has none. However, the increasing interest of investors in the cryptocurrency market and the potential to change the overall direction of the market could create supportive momentum for analysts' predictions regarding SHIB.