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Shiba Inu Burn Rate Explodes 10,786%—Can SHIB Finally Break $0.000012?

  • The burn rate for Shiba Inu (SHIB) skyrocketed by 10,786%, eliminating over 9.5 million tokens from circulation, but the price has not seen a significant rise in response.
  • SHIB is currently trading at $0.00001172 with a slight increase, but the market sentiment remains cautious as 88% of holders are still at a loss.
  • Despite signs of recovery in RSI and MACD, SHIB struggles to break above the 26-day EMA at $0.00001182, acting as a strong technical barrier.
  • Analysts note bullish signals like a descending channel pattern and a Bullish Divergence with MACD, suggesting potential upward momentum if SHIB surpasses key resistance levels.

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