$SHIB Short-term plummet of 6%, how will the market move?

Sudden drop: From July 31 to August 1, the price of SHIB fell sharply from $0.000013 to $0.000012 (a decrease of 6%), hitting a new low since July 9. The market generally believes that Trump's new tariff policy has triggered a widespread decline in the crypto market, putting Bitcoin under pressure as well. $SHIB $BTC

On-chain anomaly:

Selling pressure signal: Since July 28, the SHIB supply on exchanges surged to 84.9 trillion coins, suggesting that large holders may be selling at high prices.

Growth in holdings: During the same period, the total holdings of SHIB increased by 4.66 trillion coins (about $63.7 million), intensifying the long-short battle.

Burning surge: 602 million SHIB were burned, with the daily burn rate skyrocketing by 16,700%, which may alleviate some selling pressure.

Technical key levels:

Support: There are buy orders for 1.19 trillion SHIB near $0.000012, serving as a short-term defense line; if it falls below $0.00001108 (July low), the trend will turn bearish.

Resistance: After breaking through $0.000013, selling was triggered, requiring increased volume to recover.

Formation signal: The July candlestick shows an 'inverted bullish' pattern, indicating bulls may be gaining momentum for a counterattack.

Market outlook:

Macroeconomic risks (policies/tariffs) remain the main cause of volatility, requiring close attention to BTC trends.

On-chain data reflects the movement of major funds, with changes in exchange supply being the primary indicator.

If the burning continues to accelerate, it may offset some selling pressure and support price recovery.

A technical rebound may occur in the short term, but trend opportunities will need to wait for macro stability and signals of capital inflow.