Shiba Inu Burn Rate Explodes 10,786%—Can SHIB Finally Break $0.000012?
The post Shiba Inu Burn Rate Explodes 10,786%—Can SHIB Finally Break $0.000012? appeared on BitcoinEthereumNews.com.
SHIB’s massive 10,786% burn spike hasn’t sparked a real breakout, price is still capped below resistance. Despite bullish divergence and RSI bounce, SHIB stalls under 26 EMA with cautious buyer sentiment. The burn rate for Shiba Inu (SHIB) has soared by a massive 10,786%, removing more than 9.5 million tokens from circulation, according to data from Shibburn. This unexpected surge has raised investor interest, but the price of SHIB has yet to show any strong upward response. SHIB currently trades at $0.00001172, shows a 2.09% increase over the past day and a 2.5% gain in the past week. Although this uptick hints at some optimism, the overall market reaction remains restrained. IntoTheBlock data reveals that 88% of SHIB holders are still in the red, with their holdings below purchase value. On June 25, SHIB bounced off a local bottom around $0.0000110, showing brief upward momentum. This movement coincided with a rise in the Relative Strength Index (RSI) from oversold conditions, a signal that has sometimes preceded recoveries in the past. Still, any early momentum soon stalled, and price gains remained capped. Technical Barrier at $0.00001182 Continues to Hold The 26-day exponential moving average (EMA), currently at around $0.00001182, serves as a ceiling for the token. The price movement has continuously stagnated at this level since early June, with sellers holding the upper hand whenever attempts were made to push higher. While RSI and MACD show signs of recovery, the lack of confirmation above this key average keeps investors cautious. A clear break above the 26 EMA is necessary for a trend reversal. Source: TradingView On the derivatives side, interest appears to be building. According to Coinglass, open interest has risen by 4.89% to $142.91 million. The funding rate is 0.0082%, which indicates there’s a marginal leaning towards long positions. Total…
Filed under: News - @ July 7, 2025 3:26 pm