TLDR
- SHIB burn rate increased by 10,785% in 24 hours, removing over 120,000 tokens.
- Shiba Inu price gained 4.29% after rebounding from a strong demand zone.
- SHIB trades at $0.00000990 and eyes key resistance at $0.00001117.
- Accumulation strengthens as SHIB remains inside a descending price channel.
The Shiba Inu price is showing early signs of recovery after a long period of downward movement. A sharp 10,785% increase in the burn rate over the past 24 hours has caught the attention of traders and analysts. At the same time, price action shows a possible shift in momentum as SHIB approaches key resistance levels that could open a path to $0.000016.
SHIB Price Rebounds After Weeks of Decline
Shiba Inu is trading at $0.00000990 after gaining around 4.29% in the last 24 hours. This upward move comes after the token found support near a key demand zone that has previously triggered rebounds.
SHIB remains in a descending channel on the daily chart. However, the recent price action suggests buyers are beginning to regain some control. The support near $0.0000095 has held firm, showing strong interest at lower levels. This zone has stopped multiple declines in recent weeks.
The price movement has been limited, with smaller candles forming. These types of candles often point to a pause in selling. The market seems to be waiting for a clear move before making the next decision. For a bullish trend to continue, SHIB must break above the $0.00001117 level on a daily close.
If the price moves above this level, traders may target the next resistance levels at $0.000013 and $0.000016. These areas acted as barriers in the past, and a breakout could open the door to more gains.
Burn Rate Surge Fuels Fresh Sentiment
Shiba Inu’s burn rate rose by 10000% in the past 24 hours, removing over 120,000 SHIB from circulation. Token burns aim to reduce the overall supply, which may support the price in the long term.
This sudden rise in burning activity has brought renewed attention to the token. Burn events often attract traders looking for short-term moves, especially during times of quiet accumulation.
Shiba Inu’s community continues to play a key role in burn campaigns. This activity helps maintain interest in the token, especially when price movement slows. The recent surge shows that the community remains active and engaged despite the broader market conditions.
While the number of tokens burned is relatively small compared to SHIB’s total supply, such events often influence short-term market trends. The rise in burn activity may also encourage other holders to follow the same strategy.
Accumulation Suggests a Potential Shift in Market Structure
Price movements over the past week show signs of steady accumulation near the lower range. Traders are buying during dips, which has helped keep the price above the recent low.
This kind of price behavior often appears when traders begin to build positions quietly before a possible breakout. The narrowing of price swings also supports this view, as volatility tends to drop before a larger move.
Technical patterns still show a descending channel, but the recent bounce may be an early sign of change. If SHIB maintains current support and volume rises, it could test the upper part of the pattern in the coming sessions.
For a full trend reversal, the token must break the structure and close above resistance zones. Until then, traders are watching closely for further confirmation.
$0.000016 Still in Focus if Momentum Holds
The next key level for SHIB remains $0.00001117. A move above this resistance could set the stage for a test of $0.000013 and $0.000016.
Buyers must maintain pressure and hold key support zones to keep the recovery alive. Any strong rejection at higher levels may bring more consolidation or a retest of the demand zone.
If accumulation continues and community efforts like burns remain strong, SHIB may stay on track to challenge higher resistance levels. As of now, the market is watching for a breakout that could confirm the recovery path toward $0.000016.
