$SHIB Market Analysis
Current price: 0.00000538 USDT, down approximately 0.9% over 24h; 24h range: 0.00000509–0.00000544; trading volume: approximately 6 million USDT. Overall, price action is range-bound on declining volume.
① On October 4, SHIB launched on Solana via Sunrise (backed by Wormhole). It gained approximately 3.9% on launch day, while spot trading volume surged about 171% to nearly $100 million. An established MEME coin with a top-tier market cap has begun tapping into Solana’s user traffic. ② Burning activity remains strong: nearly 300 million SHIB were burned in a single day at one point, with the burn rate soaring more than 6,800% from the previous period. However, the absolute amount burned has recently fallen back to tens of millions to over 100 million tokens—a tiny amount relative to the total supply of 589 trillion. ③ Macroeconomic factors remain the main driver. The October 7 FOMC meeting minutes were hawkish, weighing on the broader market, and SHIB has given back nearly half of its gains following the positive news of its launch.
The multichain expansion connects SHIB to the Solana ecosystem, where Jupiter, Raydium, Phantom, and others are directly accessible. This creates a real new source of liquidity. Community-led burns continue, keeping the long-term deflationary narrative intact.
The 24h change has turned negative, while technical indicators show a double death cross and divergence in spot net inflows, pointing to weak short-term momentum. The broader market is still reeling from the sell-off. MEME coins offer high upside potential but remain fragile.
In the short term, watch whether support around 0.0000053 holds. A breakdown could lead to a test of the psychological 0.0000050 level. A move above 0.0000056 on rising volume would be needed to signal a stronger trend. In the medium term, the increase in traffic from the Solana integration is worth monitoring, but sustained trading activity and continued burns will need to accompany it. Stay cautious, manage position sizes, and avoid chasing rallies.
This is not investment advice. DYOR.
Current price: 0.00000538 USDT, down approximately 0.9% over 24h; 24h range: 0.00000509–0.00000544; trading volume: approximately 6 million USDT. Overall, price action is range-bound on declining volume.
① On October 4, SHIB launched on Solana via Sunrise (backed by Wormhole). It gained approximately 3.9% on launch day, while spot trading volume surged about 171% to nearly $100 million. An established MEME coin with a top-tier market cap has begun tapping into Solana’s user traffic. ② Burning activity remains strong: nearly 300 million SHIB were burned in a single day at one point, with the burn rate soaring more than 6,800% from the previous period. However, the absolute amount burned has recently fallen back to tens of millions to over 100 million tokens—a tiny amount relative to the total supply of 589 trillion. ③ Macroeconomic factors remain the main driver. The October 7 FOMC meeting minutes were hawkish, weighing on the broader market, and SHIB has given back nearly half of its gains following the positive news of its launch.
The multichain expansion connects SHIB to the Solana ecosystem, where Jupiter, Raydium, Phantom, and others are directly accessible. This creates a real new source of liquidity. Community-led burns continue, keeping the long-term deflationary narrative intact.
The 24h change has turned negative, while technical indicators show a double death cross and divergence in spot net inflows, pointing to weak short-term momentum. The broader market is still reeling from the sell-off. MEME coins offer high upside potential but remain fragile.
In the short term, watch whether support around 0.0000053 holds. A breakdown could lead to a test of the psychological 0.0000050 level. A move above 0.0000056 on rising volume would be needed to signal a stronger trend. In the medium term, the increase in traffic from the Solana integration is worth monitoring, but sustained trading activity and continued burns will need to accompany it. Stay cautious, manage position sizes, and avoid chasing rallies.
This is not investment advice. DYOR.