- SHIB holds support at $0.00001223 as volume surges 27%, hinting at a breakout.
- RSI near 60 and narrowing MACD gap signal possible bullish crossover soon.
- Burn rate drops 99.63%, but staked tokens show strong long-term holder interest.
Shiba Inu (SHIB) has recently slipped out of the top 20 cryptocurrencies, now ranking 22nd on CoinMarketCap. This shift signals a changing landscape in meme coin popularity and investor sentiment. Despite the fall in rank, the token is showing signs of resilience.
The current price sits at $0.00001309, reflecting a modest daily increase of 0.07%. Traders and holders alike are watching closely, as SHIB navigates between key technical levels and market activity heats up. With price consolidating and volume increasing, the next move could be significant.
Price Levels and Trend Outlook
Currently, SHIB is in a mid-range zone, trading slightly above $0.000013. This level is seen as a consolidation area after the recent dip.
On the downside, the token found strong support near $0.00001223. This zone sparked a steady recovery, forming a U-shaped pattern on the chart. On the upside, $0.00001404 acts as the resistance level that SHIB failed to break recently.
The latest surge in 24-hour trading volume, rising by over 27% to $257.4 million, shows renewed interest. Whether this reflects buying strength or mere volatility remains uncertain. However, volume spikes often signal the start of bigger moves. Consequently, if SHIB breaks past its current resistance, it may target higher zones soon.
Technical Indicators Signal Mixed Sentiment
Looking at the technicals, the MACD indicator remains negative, suggesting mild bearish momentum. However, the narrowing gap between the MACD and signal line hints at a potential bullish crossover.
Meanwhile, the RSI currently stands at 59.69. This places it in a neutral-to-bullish range, just shy of the 60–65 level that often signals stronger buying pressure.
The indicators show a cautious optimism. Any break above the $0.00001404 resistance could confirm a bullish trend continuation. However, if the price drops below $0.00001223, downside pressure may resume.
Tokenomics and Burn Activity
SHIB’s tokenomics remain a crucial part of its long-term appeal. Out of a max supply of nearly 1 quadrillion tokens, about 410.75 trillion have been burned.
This leaves a total supply of around 589.24 trillion, with nearly all of it in circulation. Over 4.64 trillion tokens are currently staked, contributing to ecosystem participation.
Interestingly, burn activity has plunged. Only 69,420 tokens were burned in the past 24 hours a 99.63% decrease. This sharp drop highlights a temporary slowdown in deflationary efforts. Nonetheless, long-term holders may see this as a chance to accumulate before another rally.
