Shiba Inu (SHIB) Drops 9.41% as Burn Rate Increases 531%
Shiba Inu Price Decline
- Shiba Inu (SHIB) has dropped 9.41% in the last 24 hours, trading at $0.00001355.
- The price is below the 20-day EMA of $0.00001570, indicating potential further declines.
- 92.78% of SHIB addresses have invested less than $1,000; only 0.16% have over $100,000.
- 39% of wallets are currently profitable based on prices.
Token Burning Situation
- The burn rate increased by 531.09%, with 13,938,285 SHIB tokens burned in the last day.
- A total of 410 trillion SHIB tokens have been removed from circulation.
- The original protocol lacks a built-in burn function due to ERC-20 contract limitations.
- Changing the contract would require migrating users to a new token, which is not feasible.
Price Analysis and Predictions
- SHIB is in a short-term bearish phase below the 20-day EMA.
- Analyst "JAVON MARKS" predicts a potential rally of 402% towards the $0.000081 target.
- RSI is at 31.46, nearing oversold territory, suggesting a possible rebound if buyers enter.
- MACD indicates a bearish trend with the line below the signal line.
If SHIB fails to hold above $0.00001350, the next support levels are $0.00001200 and $0.00001050. A recovery could target the 20-day EMA at $0.00001570, with subsequent resistance at $0.00001750.