Shiba Inu has once again caught the crypto world’s attention. A staggering 2532.14% surge in token burns over the last 24 hours signals an aggressive push to reduce supply, which in theory, should drive up prices. Yet, SHIB has fallen 6.16% in the same period, trading at $0.00001469.
So, what’s really going on? If burns are skyrocketing, why isn’t SHIB’s price following suit?
Key Technical Signals: Bullish Reversal or Further Decline?
Despite the promising burn numbers, SHIB is hovering at a critical support level ($0.0000147). If this level fails, a drop toward $0.00001261 is likely. However, a strong hold here could spark a rebound toward $0.00001718.
🔹 Classic Head & Shoulders Pattern – Typically a bearish signal unless a breakout negates it.
🔹 Weak Network Growth – Adoption is up just 0.27%, signaling low demand.
🔹 Institutional Interest Dropping – Large transactions are down 9.95%, reducing bullish momentum.
🔹 Holders Underwater – "In the money" metric down 1.06%, suggesting more SHIB holders are at a loss.
Will SHIB Recover?
📌 Bullish Case – If $0.0000147 holds, a relief bounce to $0.00001718 is possible.
📌 Bearish Case – A break below $0.0000147 could lead to further losses toward $0.00001261.
Despite an impressive burn rate, SHIB is still struggling under bearish sentiment. For any meaningful rally, stronger catalysts—such as increased adoption or market-wide bullish sentiment—will be needed.
So, what’s really going on? If burns are skyrocketing, why isn’t SHIB’s price following suit?
Key Technical Signals: Bullish Reversal or Further Decline?
Despite the promising burn numbers, SHIB is hovering at a critical support level ($0.0000147). If this level fails, a drop toward $0.00001261 is likely. However, a strong hold here could spark a rebound toward $0.00001718.
🔹 Classic Head & Shoulders Pattern – Typically a bearish signal unless a breakout negates it.
🔹 Weak Network Growth – Adoption is up just 0.27%, signaling low demand.
🔹 Institutional Interest Dropping – Large transactions are down 9.95%, reducing bullish momentum.
🔹 Holders Underwater – "In the money" metric down 1.06%, suggesting more SHIB holders are at a loss.
Will SHIB Recover?
📌 Bullish Case – If $0.0000147 holds, a relief bounce to $0.00001718 is possible.
📌 Bearish Case – A break below $0.0000147 could lead to further losses toward $0.00001261.
Despite an impressive burn rate, SHIB is still struggling under bearish sentiment. For any meaningful rally, stronger catalysts—such as increased adoption or market-wide bullish sentiment—will be needed.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.