SHIB Eyes Key Resistance as Market Speculation Heats Up

Shiba Inu (SHIB) has recently broken out of its stagnant trading range, sparking renewed Optimism among its community. Currently priced at $0.00001544 USDT, SHIB is testing new thresholds, with analysts eyeing a potential surge toward $0.00008. Despite being 99.85% below its aspirational $0.01 target, the meme token’s recent momentum suggests growing market interest. This article delves into SHIB’s latest price action, key resistance levels, and the broader sentiment driving its trajectory.

Shiba Inu Tests New Price Threshold as Market Speculation Intensifies

Shiba Inu (SHIB) has broken free from its stagnant trading range between $0.000012 and $0.000013, now hovering at $0.00001482 with a modest 0.83% daily gain. The meme token’s community remains fixated on its aspirational $0.01 target, though current levels sit 99.85% below that benchmark.

Analysts note SHIB’s recent momentum could signal preparation for a test of $0.00008, a key resistance level. Market watchers are divided on whether the token can sustain upward movement given the broader crypto market’s volatility. The asset’s performance continues to hinge heavily on speculative retail trading rather than fundamental utility.

Shiba Inu Bulls Roar To Life After Breakout—Next Price Targets

Shiba Inu (SHIB) has completed a textbook inverted head-and-shoulders pattern on its daily chart, signaling a potential bullish continuation. The pattern formed over two months, with distinct troughs in mid-March ($0.00001082), early April ($0.00001030), and early May ($0.00001230).

The breakout occurred on May 8, propelling SHIB through the neckline with strong momentum. The token subsequently reached $0.00001765, its highest level in recent trading. Analyst Cantonese Cat confirms the pattern has now completed the full breakout-and-retest sequence.

Shiba Inu’s Shibarium Burns 1 Billion SHIB Tokens in Gradual Supply Reduction

Shiba Inu’s layer-2 scaling solution Shibarium has crossed a symbolic milestone, permanently removing 1 billion SHIB tokens from circulation through its burn mechanism. The network, operational since August 2023, achieved this reduction over 21 months, with weekly burn rates currently accelerating by 4.38%.

While the 1.08 billion SHIB burned represents only about $15,000 in value at current prices, the systematic token removal demonstrates Shibarium’s designed deflationary mechanics. Market observers note this gradual supply reduction contrasts with dramatic one-time burns seen in other projects.

Shiba Inu Burn Rate Surges 8,925% Amid Market Optimism

Shiba Inu’s burn rate skyrocketed 8,925% in 24 hours, signaling aggressive supply reduction efforts by its community. The meme coin broke out of a descending channel pattern on the 4-hour chart, while Open Interest surged 130%—a potential precursor to upward momentum.

Whale activity tells a contrasting story. Netflows dropped 116.67% over seven days, suggesting large holders may be exercising caution despite the bullish technical breakout. Historical patterns show such extreme burn events often precede price rallies, though never guarantee them.

The SHIB ecosystem now faces a critical test: whether tokenomics-driven scarcity can overcome macroeconomic headwinds. All eyes are on the $0.0000153 resistance level as the next psychological benchmark.