At first glance, it looks like bad news: Shiba Inu (SHIB) has dropped over 10% in a single day, driven by a wave of long liquidations across the crypto market. But beneath the surface, charts and network data are telling a different story โ one that could end with a sharp 48% rebound.
๐ What happened?
SHIB fell from $0.0000175 to $0.0000152, losing more than a tenth of its value.
This was triggered by broader market weakness and massive long position liquidations.
But while the surface looks bearish, a classic bullish flag pattern is emerging โ a setup often followed by strong upward breakouts.
๐ Momentum builds โ hereโs why the rally could happen
๐ The Awesome Oscillator (AO) shows rising histogram bars above the zero line โ a clear sign that bullish momentum is building.
๐ If SHIB holds and breaks resistance, the next target could be $0.000024, with a further move up to $0.000029 based on the 261.8% Fibonacci extension.
โ ๏ธ Still, watch out for the RSI, which is beginning to trend down. If it dips below 50, a drop to $0.0000126 might follow.
๐ฅ SHIB Burn Rate Surges by 6,500%
On-chain data from Shibburn reveals something remarkable: over 28 million SHIB tokens were burned in just 24 hours โ a staggering 6,500% increase.
This spike is backed by real activity:
Shibarium TVL now exceeds $3.38 million
ShibaSwap DEX volumes are up 26% month-over-month
The SHIB ecosystem is not just surviving โ it's building.
๐ฅ Short Liquidations Could Ignite a Price Reversal
Data from Coinglass suggests that a move to $0.0000163 would trigger over $1.53 million in short liquidations.
That could cause a domino effect, accelerating bullish momentum and helping SHIB outperform many newer meme tokens with little utility.
๐ง Bottom line
This isnโt just a dump โ it may be a calm before a breakout.
Technical indicators are lining up
Network activity is booming
And if SHIB reclaims key levels, $0.000024 is well within reach
Shiba Inu might be down for now โ but itโs definitely not out.
#Shibalnu , #Shibarium , #CryptoNewss , #CryptoAnalysis , #SHIB
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Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.โ
