🔥 $SHIB Price Risks 35% Crash Despite 103,222% Surge in Burn Rate

📉 SHIB is trading at $0.00001263, down 27% from its yearly high and 62% below November’s peak. Despite a stunning 103,222% spike in burn rate, price action remains weak. Volume is also down 9%, now at $200M.

⚠️ Technical analysis shows SHIB dropped 28% since May 10, revisiting a key ascending trendline from Oct–Apr. A breakdown below this trendline could trigger a 35% crash to $0.0000084, the lowest since Jan 2023.

📊 Indicators flash bearish signals:
• RSI is trending below 50
• RVI shows a bearish crossover, lowest since March
• Price is below the 50-day MA at $0.00001476

🔥 Despite the weak outlook, SHIB’s burn rate exploded to over 102M tokens on June 13 after a massive single-user burn. But even this spike hasn’t reversed on-chain weakness.

🐳 Whale holdings are shrinking — from 736T to 710T since March. Meanwhile, network growth, social dominance, and daily active addresses are all trending down.

🔁 A recovery is only likely if SHIB bounces back above $0.00001476 and reclaims $0.00001754 — its May high. Only then could a 20% bullish rally come into play.

⚠️ Disclaimer:
This post is for informational purposes only and does not constitute financial advice or endorsement.