🔥 $SHIB
BURN RATE SKYROCKETS 1,900% – SO WHY IS THE PRICE STILL STRUGGLING?
$SHIB is lighting up the charts with one of its biggest burn days ever:
🚀 13.5M tokens torched in 24H
🔥 +1,900% spike in burn rate
Sounds bullish, right?
Not so fast.
Despite the fire, SHIB is down 5%, trading at $0.0000108, and stuck in a bearish triangle pattern. Here's what's really happening behind the scenes:
📉 WHY THE PRICE IS STILL UNDER PRESSURE:
1️⃣ Bearish Chart Structure
SHIB is trapped in a descending triangle, breaking below key support at $0.0000111.
If it doesn't reclaim this zone, targets could drop as low as $0.0000054.
2️⃣ Weak Technicals
RSI < 40 = Heavy selling pressure
Price far below 50-day SMA ($0.000013)
MVRV Death Cross = Short-term holders in loss territory
3️⃣ Burn ≠ Breakout
While the 24H burn is up, the 7-day burn rate is down 20%, signaling that the fire may not be sustainable long-term.
4️⃣ Fading Ecosystem Interest
Shibarium's TVL dropped from $3.14M → $1.89M in just 6 weeks.
That's nearly a 50% decline, showing cooling community engagement.
5️⃣ Market Sentiment
Memecoins are being hit hardest in this correction as capital rotates to stable assets.
SHIB’s 24H volume of $127M reflects hesitation — not confidence.
🧠 BOTTOM LINE:
The SHIB burn rate is grabbing headlines — but it’s not enough to overpower the **macro bear pressure
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