Zinger Key Points
- Shiba Inu burn rates and whale transactions are rising, with analysts predicting a strong long-term outlook.
- The potential launch of a Bitwise Dogecoin ETF has traders speculating on a massive price movement, or “god candle.”
Dogecoin DOGE/USD and Shiba Inu SHIB/USD are spiking on Friday, fueled by a significant spike in Shiba Inu's burn rate and speculation about a DOGE-focused ETF.
| Cryptocurrency | Price | Market Cap | 24-Hour Trend | 7-Day Trend |
| Dogecoin DOGE/USD | $0.3628 | $53.6 billion | +4.5% | -11.7% |
| Shiba Inu SHIB/USD | $0.00002045 | $12.04 billion | +3.5% | -15.6% |
| Pepe PEPE/USD | $0.00001587 | $6.7 billion | +8.2% | -19.3% |
Trader Notes: Crypto analyst Investing Haven highlights Shiba Inu's promising trajectory despite short-term resistance.
Price targets for 2025 range between $0.0000743 and $0.0000888, supported by its alignment with long-term growth trends.
December's analysis bolstered confidence in SHIB's mid-to-long-term strength.
Cephii, a prominent trader, predicts incoming “god candles” that could signal explosive price action.
Another trader, Kevin, emphasizes DOGE's technical strength. T
he coin recently crossed its macro golden pocket at $0.26, with the 50- and 200-day simple moving averages expanding after a bullish weekly golden cross.
However, he notes that Bitcoin's movements remain a key driver for altcoin performance.
In another post, Kevin reflects on sentiment shifts: Dogecoin at $0.35 in November 2024 triggered extreme bullishness, but the same price in January brought frustration.
Emotions often outweigh actual price action in the market.
Statistics: Shibburn data shows the burn rate spiked 1,014.1% in the past 24 hours, with 6.6 million SHIB removed from circulation.
Shibariumscan data shows daily transactions are on the rise, currently standing at 4.79 million as of Jan. 23 compared to 4.78 million as of Jan. 22.
IntoTheBlock data points to a 56.8% spike in Shiba Inu large transaction volume, while daily active addresses grew 4.4%.
Transactions greater than $100,000 increased to 179 from 156 in a single day.
Community News: The Shiba Inu team announced the launch of ShibOS, a blockchain-based operating system aimed at driving Web3 adoption.
According to Shytoshi Kusama, this platform will help businesses, governments and individuals seamlessly transition from Web2 to a decentralized Web3 ecosystem.
The potential launch of a Bitwise Dogecoin ETF is gaining traction.
Bloomberg's Eric Balchunas reports that Bitwise has officially filed for the ETF, joining a wave of crypto-related ETF applications from firms like Rex Shares and Osprey Funds.
Read Next:
Image: Shutterstock
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Market News and Data brought to you by Benzinga APIs© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
