SHIB Burns 2,000,002 Tokens in One Day but Burn Rate Plummets 32%
- Burn Activity Overview: A total of 2,000,002 SHIB tokens were burned in the last 24 hours, which drew community attention; however, the burn rate plummeted by 32.29%, indicating a significant decline in market engagement that could impact future supply dynamics.
- Market Reaction Analysis: Despite the substantial number of tokens burned, market participants focused more on the declining burn rate, with a 32.29% drop leading to cautious short-term price expectations for SHIB, reflecting fragile market sentiment.
- Weekly Data Performance: Over the past week, a total of 28,080,015 SHIB were burned, showing a modest 5.5% increase in the weekly burn rate; however, this improvement remains insignificant against SHIB's massive total supply, failing to meaningfully alter market supply-demand dynamics.
- Price Trend Observation: SHIB rose by 2.82% in the last 24 hours to trade at $0.000007362, yet the overall performance remains weak with an 11.84% decline for December, indicating a cautious market attitude towards price recovery.
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Technical Analysis for SHIB
Technical Sentiment Analysis for Shiba Inu (SHIB) As of , Shiba Inu (SHIB) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for SHIB stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, SHIB is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Shiba Inu (SHIB) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00000307 | 0.00000407 | 0.00000524 | 0.00000624 | 0.00000741 | 0.00000841 | 0.00000958 |
| Fibonacci | 0.00000407 | 0.0000049 | 0.00000541 | 0.00000624 | 0.00000707 | 0.00000758 | 0.00000841 |
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