🔥 $SHIB Burned Big.... So Why Did Price Tumble?
🔥 The Burn
Shiba Inu’s weekly burn shot up 138.57%. Circulating supply sits near 589.24 trillion. But 24-hour burns dropped sharply by 89%. Short term moves were uneven.
📉 Price Reaction
Despite the burn, SHIB fell 10.84% over the last 7 days and 1.46% in the last 24 hours. Trading volume slid about 17.7%. Burning didn’t spark an instant pump.
⚖️ Short Term Forecast
Models say SHIB could rise ~16.6% in 30 days to roughly $0.00001511. That’s a short-term guess, not a promise.
📊 Technical Snapshot
14-day RSI is 47.26. The 50-day SMA is $0.00001284 and the 200-day SMA is $0.00001320. Nearest resistance sits near $0.00001333 and support around $0.00001191.
🕳️ Shibarium Bridge Exploit
Recently the Shibarium bridge was hit by a flash loan exploit. Over $4M in assets were taken. Bridge ops are paused and a $229k bounty was offered for recovery. That drama weighed on sentiment.
💡 Why the Burn Didn’t Move Price Yet
Burns cut supply, but price needs demand. Right now some sellers and exploit fallout trimmed buying pressure. Market mood, liquidity, and macro signals like potential Fed moves matter too.
😂 Meme Moment
Shibes burned tokens like it’s barbecue day, but the market said: “Nah, not hungry yet.”
“What do you think about this?”
