Shiba Inu Burns 14M SHIB—But Price Drops! Will Ethereum Save the Day?
SHIB Burn Alert: Nearly 14 million SHIB tokens went up in smoke in the last 24 hours, yet the price tumbled 1.7% to $0.00001432, according to CoinMarketCap. Despite this major burn, SHIB continues to slide—leaving investors asking: Is Ethereum the only hope for recovery?
SHIB Token Burn: Big Numbers, Small Impact
While token burns are meant to cut supply and drive up prices, SHIB’s case is unique. With over 999 trillion tokens still in circulation, a 14M burn barely makes a dent. The total burned supply stands at 410.7 trillion, but the burn rate dropped 39%, sparking fresh concerns over long-term value.
Why SHIB Price Keeps Falling Despite the Burns
The core issue? Market sentiment and overwhelming supply. Trading volume has dipped to $220M, signaling reduced interest from retail traders. Many in the SHIB community now question if the burn mechanism can truly move the needle.
Is Ethereum the Lifeline for SHIB?
There might be a silver lining. Since SHIB runs on Ethereum, analysts believe its price often mirrors ETH’s movements. Crispus Nyaga, a respected market observer, highlights that SHIB is still trading above its 50-day moving average and forming a Golden Cross—a bullish technical signal.
If Ethereum surges toward $4,000, SHIB could follow with a rally. This link could be SHIB's best chance for a near-term rebound.
SHIB Price Forecast: Key Levels to Watch
Bullish Scenario: If ETH momentum continues, SHIB could target $0.00001945 or even $0.00002210.
Bearish Scenario: A drop below $0.00001200 could lead to new lows around $0.00001080.
Bottom Line: While token burns make headlines, true recovery may hinge on Ethereum’s rally. Keep an eye on ETH if you’re betting on SHIB’s next move.
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