SHIB Community Burns 34 Million Tokens Amid 79% Decline in Burn Rate
- Token Burn Overview: Over the past week, the Shiba Inu community burned a total of 34,197,836 SHIB tokens, and despite this significant figure, the burn rate declined by over 79% compared to the previous week, indicating challenges in the community's supply reduction efforts.
- Short-Term Rebound: In the last 24 hours, the SHIB burn rate saw a rebound of 28.17%, with 2,263,020 SHIB tokens destroyed; however, the overall 30-day burn total of 174,380,847 SHIB reflects a 3.74% dip from the previous month, highlighting market uncertainty.
- Market Volatility Impact: Amid widespread selling pressure in the crypto market, SHIB lost 4.44% in value over the past 24 hours and is down 5.06% for the week, currently trading at $0.00000556, showcasing a sharp shift in market sentiment.
- Liquidation Data: Fresh data from CoinGlass indicates that liquidations across the crypto market totaled $916 million in the past 24 hours, with long positions making up the majority, underscoring traders' misjudgment of market trends and resulting in significant losses.
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Technical Analysis for SHIB
Technical Sentiment Analysis for Shiba Inu (SHIB). As of , Shiba Inu (SHIB) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 3 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 crypto.
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 | 0.00000474 | 0.00000511 | 0.00000541 | 0.00000578 | 0.00000608 | 0.00000645 | 0.00000675 |
| Fibonacci | 0.00000511 | 0.00000537 | 0.00000553 | 0.00000578 | 0.00000604 | 0.0000062 | 0.00000645 |
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