- SHIB bounced roughly 5% from the lower channel boundary, but remains below Supertrend and key EMA resistance.
- Burn rate surged more than 3.9 million percent in 24 hours, though the absolute supply impact remains limited.
- Intraday momentum shows stabilization, not reversal, with rallies capped below the $0.0000086 trend barrier.
Shiba Inu price today trades near $0.00000738 after rebounding roughly 5% from the lower boundary of its descending channel. While the bounce offers short-term relief, the broader structure remains under pressure as SHIB continues to trade below key trend indicators and dynamic resistance levels.
Burn Rate Spikes Over 3.9 Million Percent In 24 Hours
SHIB recorded a dramatic surge in burn activity, with Shibburn data showing a 3,915,071.74% increase in the burn rate over the past 24 hours. During that period, 21,611,748 SHIB tokens were permanently removed from circulation.
The burn transactions were spread across multiple wallets, including several large transfers exceeding 2 million SHIB in a single transaction. While the absolute token count is small relative to SHIB’s massive supply, the psychological impact of a burn spike of this magnitude is meaningful in the short term.
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Despite the headline burn figure, SHIB’s broader supply picture remains largely unchanged. Total supply currently stands near 589.24 trillion SHIB, with circulating supply estimated at 585.28 trillion SHIB. Roughly 410.75 trillion SHIB have been burned since inception, while just under 4 trillion SHIB remain staked.
Daily Chart Shows Trend Still Firmly Bearish
SHIB Price Dynamics (Source: TradingView)On the daily chart, SHIB remains locked inside a well-defined descending channel that has guided price lower since the July peak. The recent rebound emerged directly from the lower channel boundary near $0.0000070, a zone that has repeatedly attracted reactive buying. However, trend indicators continue to favor sellers.
The Supertrend remains firmly bearish, sitting near $0.00000860, well above current price. Until SHIB can close decisively above that level, the dominant trend remains intact. The Supertrend has capped every recovery attempt since October, reinforcing its role as primary trend resistance.
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The Parabolic SAR aligns with that view. SAR dots remain positioned above price near $0.00000857, signaling that downside pressure has not yet flipped. When Supertrend and SAR stay aligned above price, rebounds are treated as counter-trend moves rather than reversals.
Intraday Charts Confirm Relief Bounce, Not Trend Shift
SHIB Price Action (Source: TradingView)On the 2-hour chart, SHIB’s rebound from $0.00000702 shows improving short-term momentum, but price is already running into layered resistance.
The 20 EMA near $0.00000737 and the 50 EMA around $0.00000761 sit directly overhead, limiting follow-through. Above them, the 100 EMA at $0.00000787 and 200 EMA near $0.00000812 form a broader resistance band that has repeatedly rejected upside attempts this month.
Bollinger Bands also highlight the challenge. Price bounced from the lower band, but remains below the midline, indicating stabilization rather than expansion. Without acceptance above the EMA cluster, the move lacks trend confirmation.
Outlook. Will Shiba Inu Go Up?
SHIB has stabilized, but the trend has not flipped.
- Bullish case: A daily close above $0.0000086 would flip Supertrend and SAR, invalidate the descending channel, and open the door toward $0.0000095 and higher.
- Bearish case: Failure to hold $0.0000070 would confirm continuation within the downtrend and expose $0.0000065 as the next downside target.
For now, Shiba Inu’s rebound remains a technical pause inside a bearish structure, with Supertrend and SAR still firmly favoring sellers.
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Source: https://coinedition.com/shiba-inu-price-prediction-burn-rate-explodes-as-shib-bounces-5-from-lows/
