Shiba Inu ($SHIB) has once again lit up the community headlines with an impressive 12 million token burn, pushing the burn rate up by over 7,200% in just 24 hours. While this explosive on-chain activity highlights the community’s dedication to shrinking supply and driving long-term value, the price chart is telling a different — and more cautious — story.
📉 Price vs. Hype: A Divergence Appears
Despite the dramatic burn spike, $SHIB is showing signs of technical weakness, forming a descending triangle pattern, a historically bearish formation that often precedes significant downside. This pattern, marked by lower highs pressing into a flat support line, reflects growing selling pressure and reduced momentum among buyers.
If the price breaks below the key support zone, analysts are warning of a potential 50% drop — with the next major support target lurking near $0.0000054.
🔍 Technical Breakdown: Why Traders Are Cautious
📌 Pattern: Descending triangle – often breaks lower when volume fades
📉 Support Level: Holding around $0.000010, but losing strength
⚠️ Risk Target: Breakdown could send SHIB to $0.0000054
📊 Volume: No follow-through yet on burn hype = fading bullish momentum
🚨 Don’t Ignore the Burn – But Don’t Blindly Chase It Either
Burn metrics are undeniably strong. A 7,200% increase in burn rate shows commitment from the SHIB Army. But price action always tells the truth, and right now, it’s leaning bearish. Without a clear breakout above resistance, SHIB’s chart suggests that the recent hype could be short-lived.
This isn’t about fear — it’s about risk management. Smart traders are now:
Setting alerts near key support zones
Waiting for volume confirmation on either side
Preparing strategies for both breakdowns and fakeouts
💬 The Bottom Line
Yes, the fundamentals (like burning tokens) are improving. But technical structure outweighs sentiment in the short term. Until SHIB can break out of this descending triangle and reclaim previous highs, the market remains cautious.
Is SHIB headed for a breakout — or breakdown? One thing is clear: the next move will be big.
Stay focused. Stay prepared. Let the chart guide you. 📉🔥
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