SHIB Price Falls Below $0.000015 Support Amid 66% Burn Rate Decline
Shiba Inu Price Overview
- Current price: $0.00001485, down 5% in 24 hours.
- Price has fallen below the significant support level of $0.000015 for the first time in 2025.
- Burn rate decreased by 66%, with only 15.1 million SHIB tokens burned in the last 24 hours.
- Meme coin market total cap declined by 37%, now at $62.9 billion.
- SHIB's market cap fell by 55% since December, currently at $8.76 billion.
Technical Analysis
- RSI at 37 indicates potential oversold conditions.
- Testing lower Bollinger Band suggests increased selling pressure.
- Key support levels: next at $0.0000135; breaking below may retest $0.000012.
- A bullish scenario requires reclaiming $0.000015 as support, targeting $0.0000168.
Analyst Insight
- Analyst Javon Marks identified a potential Inverse Head & Shoulders pattern.
- If confirmed, this could lead to a rally towards $0.000081, implying a 400% increase from current levels.
