SHIB at Critical Support, Risk of Further Decline
Key Takeaways
Shiba Inu (SHIB) is at a critical point. The price is approaching the important support level at $0.000012. If this level does not hold, a further decline to $0.0000094 could follow. At the same time, an increased token burn rate is reducing supply. Whether this will support a recovery remains to be seen.
SHIB’s Current Price Development
In the last 24 hours, the SHIB price has dropped by 10.85%, and over the past week, it has fallen by 15.49%. Currently, the price stands at $0.00001314. Analysts see the levels at $0.000012 and $0.0000094 as crucial for potential stabilization.
Key Support and Resistance Zones
Technical analyses indicate that SHIB is encountering strong resistance between $0.000022 and $0.000027. Previous attempts to break through this zone have failed.
– The 0.618 Fibonacci retracement level is at $0.00001434.
– If this does not hold, $0.000012 could serve as the next support level.
– A further drop to $0.0000094 is possible if selling pressure continues.
An increase in trading volume or heightened activity from large investors (whales) could provide clues about a potential trend reversal.
Market Sentiment and Technical Indicators
Various indicators confirm the current downward trend:
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– The Parabolic SAR indicates sustained selling pressure.
– The Stochastic RSI is at 36.38, suggesting a possible recovery.
– The Aroon-Up indicator stands at 78.57%, signaling a weakening upward movement.
– The Aroon-Down indicator is at 0%, indicating low immediate selling activity.
If the Aroon-Down value rises, it could confirm a strengthening downtrend.
Decline in Exchange Reserves and Network Activity
According to CryptoQuant data, SHIB holdings on exchanges have dropped to 95.5 trillion tokens. This suggests that investors are moving their holdings to private wallets. A continued decrease in available tokens could contribute to price stabilization in the long term.
The number of active SHIB addresses is currently around 4,000. A sustained increase in network activity would be necessary to support a recovery.
SHIB Burn Rate Surges Over 4000%
The SHIB token burn rate has increased by 4,137.17% within 24 hours. This reduces supply, which could potentially stabilize prices—provided that demand rises accordingly.
Our Assessment
SHIB is at a decisive point. The support at $0.000012 could trigger a recovery, but a breakdown below this level would open further downside potential. The rising burn rate could support a positive long-term trend, but in the short term, selling pressure remains high. The coming days will determine whether buyers return to the market or if SHIB continues to decline.
| Symbol | DOGE |
| Coin type | Alt Coin |
| Transaction Speed | Medium |
| Pros |
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| Cons |
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| Further practical applications | |
| Price | $0.20 |
| 24h % | -0.69 % |
| 7d % | -16.30 % |
| 30d % | -39.29 % |
| 60d % | -37.38 % |
| 1y % | 74.89 % |
| Market Cap | $29,714,335,296.00 |
| Official Links | Website | Source Code |
| Socials | Reddit | X |
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