• Trading at $0.0000125 with a market cap of $7.36 billion
• Trading volume over the past 24 hours reached $190.96 million, indicating moderate activity
• Recent price movements have been limited within the range of $0.0000125 - $0.0000133
• Increased token burn operations: a 388% increase on August 16 (102 million tokens burned) and a massive jump of 48,244% on August 13
The impact of burning and market dynamics
• Accelerated burn operations aim to reduce the circulating supply and increase potential value
• 3 trillion SHIB tokens have been transferred on institutional platforms, indicating activity from whales
• Despite the significant burn, the price remains relatively stable, indicating that the market needs additional catalysts
• Community initiatives to burn tokens continue as a long-term value strategy
Trading forecasts
• Key support at $0.0000125; if broken, the price may test $0.0000101
• Resistance at $0.0000133; if broken, the price may target $0.0000445
• The medium-term bullish scenario could reach $0.000076 if the burning momentum continues
• Strategy: Consider accumulating during price spikes with increased volume or short dips after burn announcements
Market sentiment
• Mixed reactions from the trading community: optimism about increasing burn rates versus concern about price stagnation
• Technical indicators suggest that SHIB is in a critical accumulation phase
• Increasing institutional interest may indicate long-term confidence
• Volatility is expected to continue as burn initiatives progress
