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As of May 28, 2025, Shiba Inu ($SHIB is trading at approximately $0.00001446, reflecting a modest 0.42% increase over the past 24 hours. The token has experienced a 6% gain over the past month, indicating a gradual upward trend.

Recent developments suggest a cautiously optimistic outlook for $SHIB . A significant spike in token burns, with over 37 million removed from circulation, has contributed to a reduction in supply. Additionally, technical analyses highlight bullish chart patterns, such as a breakout from a falling wedge formation, which could signal potential for further price appreciation.

However, it's important to note that $SHIB faces resistance around the $0.00001596 level, and exchange inflows have decreased by 83%, indicating potential challenges in sustaining upward momentum. The price remains range-bound between $0.00001408 and $0.00001492, suggesting consolidation in the near term.

In summary, while SHIB shows signs of bullish behavior supported by token burns and technical patterns, investors should remain cautious due to existing resistance levels and reduced trading inflows.