Posted on December 23, 2023The lead developer of the Shiba Inu ecosystem has argued that eliminating 99.9% of Shiba Inu’s circulating supply is not impossible.In a recent tweet, Shytoshi Kusama, the enigmatic leader of the Shiba Inu development team, expressed that bringing Shiba Inu’s current circulating supply to 0.1% of its size is a vision that can materialize.This bold declaration comes amid an exchange with a Shiba Inu critic. The context of the conversation was Shibarium’s soaring positive metric, with transactions reaching new counts of 150 million.Amid the development, the Shiba Inu critic sarcastically asked Kusama to burn 99.9% of SHIB tokens, likely with the fees accrued from Shibarium transactions. The critic went on to add that such a hypothetical scenario cannot be a reality because, according to him, Shiba Inu is trash.Shiba Inu Lead Says Nothing is ImpossibleHowever, the Shiba Inu ecosystem leader reacted to the critic’s view with a counterargument. Succinctly, Kusama said:“Nothing is impossible except for you seeing how it’s possible. We push forward.”With SHIB’s circulating supply at 580,925,715,095,591 (580 trillion), burning 99.9% would reduce Shiba Inu’s supply to 580 billion, which is still significant.Reacting to Kusama’s statement, members of the Shiba Inu community welcomed the idea, noting that it merely takes patience to attain such a feat. Raul Valadez-Rayas, a U.S.-based Shiba Inu enthusiast, remarked:“Patiently waiting for Shytoshi Kusama. Can’t wait to see trillions of SHIB burn one day, and then everyone in the SHIB ARMY will be happy.”Shiba Inu Team’s Efforts to Burn SHIBNotably, the Shiba Inu development team has orchestrated the third and fourth editions of its routine Shiba Inu token burn based on fees accumulated from Shibarium transactions.The Crypto Basic has reported that the team has incinerated over 17 billion SHIB tokens in the last 24 hours in two transactions. The first transaction, which occurred yesterday, eliminated 8.53 billion SHIB. Meanwhile, in less than 23 hours, another 8.47 billion SHIB was burnt.As a result, the Shiba Inu team has burned a whopping 33,862,174,416 (33.8 billion) SHIB tokens this month alone.$SHIB

The underlying demand is rising, and sideline traders and institutional investors anticipate a bullish recovery. Surprisingly, the top choices for best performers are meme coins like Dogecoin and Shiba Inu, known for their massive price jumps.
Despite a weak bullish trend in the past few weeks, the general trend in the SHIB token is sideways to bearish. A potential breakout on the cards teases a massive upspring in Shiba inu coin prices with increased momentum.

Moreover, for further insight into the potential SHIB price trend in May, we consulted ChatGPT 4.0 to forecast the meme coin’s performance.

Let’s review the current performance and delve into ChatGPT’s SHIB price prediction one month after the Bitcoin Halving.
SHIB Price Performance
With negative 18% returns in the last 30 days, the SHIB price trend reflects an increased bearish influence. The minor increase in selling pressure leads to a declining trend and attempts to undermine the massive jump in early March.

However, the 4H chart reflects a triangle formation with a solid support trendline, giving a bullish reversal possibility. Currently, the SHIB price trades at $0.00002470, close to the 50% Fibonacci level, support trendline, and the $0.00002450 demand zone.

As the meme coin trades close to multiple bullish catalysts, a reversal is possible down the line, teasing a bullish break. With such a breakout, the SHIB price could break the $0.00004382 peak and surpass $0.000050.
To confirm our price chart analysis, we asked ChatGPT to predict the SHIB price trend in May. Here’s what the AI predicted for Shiba Inu in May 2024.
ChatGPT’s Bullish View on Shiba Inu Coin Price
Detecting the symmetrical triangle pattern, the AI predicts two potential scenarios for the meme coin. With a possible bullish break, the SHIB price could skyrocket beyond the psychological mark of $0.000050.
Conclusion
In short, the technical analysis and the ChatGPT price prediction share a similar bullish viewpoint, teasing a potential jump beyond the psychological mark of $0.000052. $SHIB

As the Bitcoin price struggles to find bullish momentum in almost a week post-Halving, the meme coins offer a better opportunity. With a breakout rally in motion and others offering trend reversals, smart investors are hoping for a bullish 2024.
Will the meme coins make a jump this week for a new bull run? Let’s find out now in our meme coins price analysis below.

The #1 Meme Coin Aims For Triangle Breakout
With a substantial market capitalization of $21.61 billion, Dogecoin remains the leading meme coin and the 8th largest altcoin by market size. Currently trading at $0.1501, DOGE has experienced a significant drop of 31.83% from its monthly high of $0.22.
Amidst a market-wide correction phase with scant bullish momentum, Dogecoin’s price action on the 4-hour chart is forming a triangular pattern. The trend appears weak as it approaches the support trendline and hovers near the $0.1470 demand zone.

Nonetheless, increasing interest from institutional investors in meme coins could potentially spearhead a robust recovery for Dogecoin. If the positive cycle gains momentum, an optimistic breakout rally could catapult DOGE back to the pivotal $0.20 mark, signaling a strong upward movement.
Shiba Inu (SHIB)
Ranking as the second biggest meme coin after DOGE, the SHIB price trend showcases a triangle pattern in the 4H chart. With a positive cycle struggling for a breakout, Shiba Inu prepares a doubles bottom reversal at the 61.80% Fibonacci level. Further, the MACD indicator is on the verge of a bullish crossover, bolstering the breakout possibility. Even the improving market sentiment projects a potential turnaround in SHIB prices.

In case of a bullish breakout, the SHIB price could hit the $0.00004382 mark.
PEPE (PEPE)
Despite a broader market weakness, this frog-themed meme coin offers a high likelihood of a bull run with this breakout rally. With a $3.18 Billion market cap, PEPE stands in the top 50 altcoins. Trading at $0.000007550 and an overnight jump of 7.31%, the recovery rally in PEPE leads to a channel breakout rally.
As the meme coin forms a double top at the 50% Fibonacci level, the sideliners anticipate post-retest reversal. Optimistically, the breakout rally could reclaim the psychological mark of $0.000010. $PEPE $SHIB $MEME

The volatility in the crypto industry is on a constant rise, highlighting increased buying and selling pressure in the market. Moreover, top altcoins have recorded a significant uptrend in their respective charts, suggesting a high potential for a positive price action during the coming time.
In this article, we have covered the market sentiments and price targets for the top 3 Altcoins that have the potential to outperform the crypto market during the upcoming month.

Stacks (STX):
The STX token jumped 5.38% within the past day, resulting in its price on the verge of testing its important resistance level of $3.088, the outcome of which is uncertain. However, the volatility is on a constant rise with the market favoring the bulls, indicating a possibility of an altcoin rally soon.
Furthermore, the Stacks price has added 21.73% within the past seven days and its YTD stands at 103.68%, highlighting a positive outlook for this altcoin in the market. Further, the Stacks token has displayed a bullish price action by surpassing the EMA 50-day in the 1D time frame.

The technical indicator, MACD, displays a positive outlook for the STX price in the coming time as its averages show a bullish convergence in the 1D time frame. Moreover, the histogram records a rising pattern, suggesting the price will continue trading under a bullish sentiment.
If the market holds the price above the support level of $3.085, the Stacks price will continue rising and prepare to test its upper resistance level of $4.250 during the upcoming month. However, a bearish trend reversal may pull the price toward its support level of $2.52.

Kaspa (KAS):
After recording a successful 2023, the Kaspa price displayed a neutral trend for the first month of 2024, indicating a reduced price action for the altcoin in the market. However, as the volatility increased, the price recorded a jump of 88.63% within the next few days.
The price recorded a yearly high of $0.183, following which the bulls lost momentum and recorded a correction of 36.62% in value. Since then, the price has been trading in a closed range between $0.116 and $0.140.

The MACD shows a flatline in the chart, suggesting a weak buying and selling pressure for the altcoin in the market. Furthermore, the averages display a bullish crossover, highlighting a bullpower in the market.

If the market continues trading under a bullish influence, the KAS price will test its upper level of $0.162. Conversely, if the bulls lose momentum, the Kaspa token will fall to test its support level of $0.116 in the coming time.
ImmutableX (IMX):
The IMX price has displayed a strong bullish reversal in the chart after trading under a bearish convergence for about a month. The ImmutableX token has recorded a jump of 5.52% within the past day and 20.16% over the past week, suggesting a high potential for a bullish price action in the coming time.
The Moving Average Convergence Divergence (MACD) displays a rising green histogram, highlighting a bullish outlook for the IMX price this week. Further, the averages show a positive price action, suggesting a bullish outlook for the ImmutableX token during the coming time.

If the market pushes the IMX price above the resistance level of $2.55, the bulls will prepare to test its upper resistance level of $3.08 in the coming time. Negatively, bearish price action may result in the ImmutableX token falling toward its support level of $1.97 this month.$STX $IMX