Shiba Inu Coin (SHIB) is experiencing an uptick in its price today. The meme coin is up by more than 7% and is trading at $0.00001288. After a tough start to the year, meme coins are showing signs of a comeback. Since the beginning of 2025, the meme coin market has been struggling, with the total market cap falling over 50% from its peak at the end of 2024. 

Dogecoin (DOGE), the biggest meme coin by market cap, has dropped around 20% in the past month, and other coins like FLOKI and PEPE have also taken a hit. However, DOGE has gained 7% in the past 24 hours, indicating a shift in momentum after a tough period. The recent gains show that the market sentiment is turning around.

An X (formerly Twitter) user has shared an interesting Shiba Inu chart, hinting at a possible “second wave” pump for SHIB. The chart suggests the market appears to be rising from the recent dip, causing excitement among investors.

Related: Don’t Fall For It: Saylor Still Buying BTC Despite Fake $100K Quote Prank

Catalysts to Support a SHIB Recovery

An increase in Shiba Inu’s token burn rate could provide another positive catalyst for the price. Recently, the burn rate went up by 30%, reaching 2.01 million, bringing the total number of burns to over 410 trillion. This helps reduce the number of coins in circulation, adding value to the token. 

Also, activity on SHIB’s layer-2 network, Shibarium’s total value locked (TVL) has risen by 24% in the last month, now at $2.5 million. ShibaSwap saw a 15% jump in TVL, while WoofSwap and ChewySwap grew by 22% and 20%, respectively. These changes show more activity and interest in the Shiba Inu ecosystem.

What’s Next For Shiba Inu Price?

Shiba Inu currently trades within what technical analysts identify as a strong historical support zone, roughly between $0.000010 and $0.000012.. Historically, these levels have attracted strong buying pressure, and signs of bullish momentum suggest the possibility of an upward move.

Related: “Liberation Day” Nears: What Trump’s Tariffs Mean for Your Crypto Bag

The last time SHIB touched this trendline was in 2023 and 2024, and after that, the price shot up. So, there’s a good chance SHIB will bounce back from this support and possibly retest the resistance at $0.000033, which would be a 165% gain from its current price.