Shiba Inu Freezes 4.6M BONE Tokens After Shibarium Bridge Hack as Price Soars 41%

Sean Williams
SHIBA INU (SHIB)

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  • SHIB surpasses key resistance, signaling potential momentum.
  • Whale accumulation and Shibarium adoption strengthen bullish case.
  • Supply and competition remain challenges for reaching $0.0001.

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Shiba Inu (SHIB) is back in the spotlight as traders weigh the potential for a fresh rally. After weeks of subdued price movement, recent developments suggest the meme-born token could be gearing up for a breakout. Analysts are pointing to whale accumulation, rising activity on the Shibarium network, and favorable technical signals as catalysts that could drive SHIB higher.

Charts Signal Potential Momentum

Shiba Inu has recently surpassed a descending resistance line, a technical move often associated with growing demand. The token now trades within a consolidation zone above this breakout, which many traders interpret as an accumulation phase—the calm before a potential surge. Analysts have identified $0.000016 as the next short-term target, with a close above the 200-day simple moving average (SMA) serving as confirmation for further upward momentum.

Market data supports this technical outlook. On-chain activity shows a 4% increase in open interest, suggesting both retail and institutional investors are positioning for movement. Shibarium, Shiba Inu’s Layer-2 network, has also gained traction, processing over 1.2 million daily transactions and demonstrating increasing utility beyond its meme status.

Challenges Remain

Despite bullish signals, SHIB faces hurdles that could limit its upside. Token burn initiatives, aimed at reducing supply, have yet to create a lasting impact. While over 410 trillion tokens have been burned since 2021, nearly 589 trillion remain in circulation, making supply concerns persistent. Even dramatic single-day burn spikes of up to 1,600% have proven largely symbolic.

Competition in the meme coin space adds another layer of pressure. New entrants like Pepenode are attracting attention through presales and staking incentives, challenging SHIB to maintain relevance. Investors remain split: some highlight the bullish technical patterns and whale accumulation as a sign of potential gains, while others caution that high circulating supply and rising rivals could stall progress.

Also Read: Shiba Inu Freezes 4.6M BONE Tokens After Shibarium Bridge Hack as Price Soars 41%

Watching the Road Ahead

A decisive close above the 200-day SMA could reinforce confidence and propel SHIB toward $0.000025. From there, the ambitious $0.0001 milestone becomes a possibility. However, without sustained conviction, the token risks returning to a consolidation phase. For now, the SHIB community watches closely as momentum indicators, whale activity, and Shibarium adoption collectively shape the next chapter.

Shiba Inu stands at a critical juncture. A sustained breakout could signal the start of a long-awaited climb, but supply hurdles and fresh competition will test the resilience of this popular meme coin.

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Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.

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