SHIB at Crucial Level: Breakout or Further Losses?
Key Takeaways
Shiba Inu (SHIB) shows signs of a potential recovery, but current transaction activity presents a hurdle. Price development depends on the stability of the support zone at $0.00001250. At the same time, the burn rate is increasing, reducing supply, but this does not necessarily lead to a price increase.
Key Support and Resistance Zones
The SHIB price is currently around $0.00001534. A crucial support zone is at $0.00001250. If the price holds this level, an upward movement could follow. Otherwise, further losses may occur.
On the upside, the resistance zone at $0.00003333 represents a hurdle. A breakout could trigger a stronger upward movement.
Technical Indicators and Market Sentiment
The MACD (Moving Average Convergence Divergence) is approaching the signal line. Crossing it could be a bullish signal and support a price increase.
However, if SHIB falls below the support zone, it could create selling pressure and push the price further down. The market’s reaction to these levels will be crucial.
Decline in Transactions
The number of daily transactions on the Shibarium network has dropped to 54,640. This could indicate declining activity and lower investor interest.
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A decline in transactions can reduce demand for SHIB and negatively impact the price. In the long run, development will depend on adoption and technological advancements in the network.
Burn Rate Increases Significantly
In the last 24 hours, 15,492,566 SHIB have been burned, representing a 588.25% increase in the burn rate. The goal of this measure is to reduce supply and stabilize the price.
However, a high burn rate alone is not enough to ensure a sustainable price increase. Without rising demand, the effect may remain limited.
Our Assessment
Shiba Inu is at a critical point. The support zone at $0.00001250 must hold to enable a recovery. At the same time, declining transactions are a warning sign for investor interest.
The increasing burn rate could provide short-term stability, but without higher network usage, the potential remains limited. Investors should closely monitor price developments and market activity.
| Symbol | DOGE |
| Coin type | Alt Coin |
| Transaction Speed | Medium |
| Pros |
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| Cons |
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| Further practical applications | |
| Price | $0.24 |
| 24h % | -4.14 % |
| 7d % | -13.26 % |
| 30d % | -31.22 % |
| 60d % | -24.58 % |
| 1y % | 188.67 % |
| Market Cap | $35,838,031,513.00 |
| Official Links | Website | Source Code |
| Socials | Reddit | X |
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