Shiba Inu ($SHIB ) Fights Back: Massive Burn Rate vs. Unsteady Price 🔥

Let’s be real – the market’s been all over the place lately. But one thing that caught everyone’s attention is SHIB.

Recently, SHIB recorded a staggering 6,519% spike in its burn rate, permanently removing 28 million tokens from circulation in just one day. This wasn’t just a one-off event; it’s part of SHIB’s long-term strategy to create scarcity. The problem? The price didn’t react as expected.

💡 SHIB Price Movement and Market Reaction

Despite the massive burn increase, SHIB’s price actually dropped by nearly 8%. As of now, it’s trading at $0.00001635, up 6.83% from yesterday.

Technically speaking, the Bollinger Bands are widening, indicating increased volatility. The price hit the upper band and pulled back, hinting at overbought conditions. Plus, the RSI has cooled off from above 80 to around 63, showing that the bullish momentum is fading.

🧭 Key Support and Resistance Levels

Support: $0.00001402 (20-day SMA)

Resistance: $0.000017, then $0.0000224

Experts suggest that if SHIB breaks through the $0.000017 resistance, it could aim for the next level at $0.0000224. However, with current cooling signals, a short-term pullback is also on the table.

#TradeLessons #meme $BTC