Shiba Inu Burn Rate Plummets 97.83% Yet Price Surges 9.66%
- Burn Rate Collapse: Shiba Inu's burn rate plummeted by 97.83% in the last 24 hours, with only 3,777,885 SHIB tokens burned compared to over 173 million the previous day, highlighting extreme volatility in token burning activity.
- Strong Weekly Burns: Despite the dramatic drop in the 24-hour burn rate, the network burned nearly 194 million tokens over the past week, marking a 502% increase in weekly burn rate, suggesting that overall supply reduction could support upward price pressure in the future.
- Significant Price Rebound: On January 1, Shiba Inu's price surged from $0.00000688 to $0.00000751, reversing a short three-day decline, indicating strong market optimism surrounding the token.
- Complex Market Dynamics: Despite the drop in burn rate, Shiba Inu's price increased by 9.66%, reflecting healthy market demand, and investors should closely monitor the relationship between burn trends and price fluctuations to gauge potential market shifts.
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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 | 0.00000308 | 0.00000407 | 0.00000525 | 0.00000624 | 0.00000742 | 0.00000841 | 0.00000959 |
| Fibonacci | 0.00000407 | 0.0000049 | 0.00000541 | 0.00000624 | 0.00000707 | 0.00000758 | 0.00000841 |
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