- SHIB tests 50-day MA, with breakout targets at $0.000015-$0.000025 levels.
- Burn rate drops 75%, raising short-term scarcity concerns despite huge supply cuts.
- Shorts face $780K losses as Binance leads liquidations, fueling SHIB price rebound.
Shiba Inu (SHIB) has recently witnessed a notable surge, raising questions about what’s driving this upswing. The token, often associated with meme culture, has grown in both trading volume and market interest.
As of press time, SHIB is trading at $0.00001351, marking a 7.92% increase in the last 24 hours. This gain follows a 16.56% rise over the past seven days.
Besides the price momentum, technical analysts like Hailey LUNC have spotted a potential breakout pattern forming on the daily charts. According to her analysis, SHIB is shaping a descending channel while consolidating above the midline support.
The price is now testing the 50-day moving average. If SHIB breaks above this level, it could aim for targets at $0.00001500, $0.00001750, $0.00002050, and even $0.00002500.
#SHIB 🐶🐶🐶🐶
— Hailey LUNC ✳️ (@TheMoonHailey) July 11, 2025
Shiba Inu is forming a descending channel pattern on the daily timeframe🔍
The price is consolidating above the midline support and is currently testing the MA 50💁♂️
Breaking above this MA could drive the price toward targets at $0.00001500, $0.00001750,… pic.twitter.com/j61AGC6lPH
Burn Mechanics and Token Scarcity
The SHIB ecosystem continues its aggressive burn strategy. According to SHIBBURN, over 410.75 trillion tokens have been removed from the original supply. This massive burn has dropped the total supply from nearly 1 quadrillion to 589.24 trillion. Out of this, 584.56 trillion are currently circulating in the market, while 4.68 trillion tokens are staked in the xSHIB program.
However, recent burn data suggests a slowdown. Over the past 24 hours, just 4.67 million SHIB tokens were burnt. That’s a 75.06% drop in burn rate compared to the previous day. This sudden decrease may raise concerns about SHIB’s short-term scarcity, although the long-term burn impact remains significant.
Market Sentiment and Liquidations
Beyond burns and patterns, the market’s sentiment plays a key role. In the last 24 hours, SHIB has seen a trading volume of $373.1 million, reflecting high trader interest. Per liquidation data for 1000SHIB, roughly $1.2 million was wiped out mostly from perpetual contracts.
Interestingly, short traders bore the brunt with $780.6k in losses, compared to $371.2k for longs. This suggests aggressive shorting met with sharp price rebounds, possibly fueled by whale buys or key market news.
Moreover, Binance accounted for the highest liquidation volume, while Bybit showed a relatively low level of activity. This distribution hints at where major positions are being placed and closed, shaping short-term volatility.
