SHIB Token Burn Rate Increases Modestly Amid Price Drop
- Burn Rate Data: In the last 24 hours, 1.02 million Shiba Inu (SHIB) tokens were burned, valued at approximately $5, and although the daily burn rate increased by 13.92% compared to the previous day, the absolute figure remains insignificant, indicating limited impact on SHIB prices from current burn activities.
- Weak Weekly Burn Activity: Over the past week, a total of 15.15 million SHIB tokens were burned, equating to a market valuation of about $75, and despite a 14.07% increase in the weekly burn rate, the overall low volume reflects poor market sentiment that has failed to drive price increases.
- Market Pressure Factors: SHIB's price retreated by 2.15% in the last 24 hours to $0.000004844, primarily influenced by signals from the U.S. Federal Reserve, while investor focus on IPOs and AI stocks has exacerbated weakness in the crypto market.
- Analyst Expectations: Analysts suggest that SHIB's recent price behavior indicates a consolidation phase, likely to remain within the $0.000004 to $0.0000051 range unless a significant catalyst emerges to shift market momentum.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for TOKEN
Technical Sentiment Analysis for TokenFi (TOKEN). As of , TokenFi (TOKEN) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for TOKEN 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, TOKEN 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 $-.
TokenFi (TOKEN) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00201 | 0.0022 | 0.00237 | 0.00257 | 0.00274 | 0.00293 | 0.0031 |
| Fibonacci | 0.0022 | 0.00234 | 0.00243 | 0.00257 | 0.00271 | 0.00279 | 0.00293 |
About TOKEN
About the author
