Shiba Inu Burns 2532% More Tokens. Is It Enough For Rally?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.
