Shiba Inu Price Alert: Plummeting Burn Rate Sparks Market Jitters
Another day, another meme coin drama—Shiba Inu’s burn rate just nosedived, and traders are sweating. Could this be the start of a fiery dump? Or just another blip in crypto’s endless rollercoaster?
Burn Rate Crashes: What Now?
When token burns slow to a crawl, supply floods the market. Shiba Inu’s deflationary mojo is fading fast—bad news for bagholders praying for a rebound.
Market Reaction: Panic or Patience?
Price charts look shaky, but let’s be real—since when has logic governed meme coins? Retail traders are either doubling down or cutting losses (while whales quietly accumulate).
Cynical Take: Ah, the classic crypto cycle—hype, hope, then the inevitable ‘why is my portfolio red?’ wake-up call. At least the memes stay evergreen.
Shiba Inu price technical analysis
On the daily timeframe, the SHIB price remains below both the 50-day and 200-day Exponential Moving Averages, an indication of sustained bearish pressure.
More concerning is the formation of an inverse cup-and-handle pattern, which often precedes additional downside. The token is currently in the process of forming the handle portion of the setup.
Further weakness will be confirmed if SHIB breaks below the lower edge of the cup at $0.00001025. A move beneath that level could signal further losses, potentially pushing the price below $0.000010.
On a more optimistic note, the forming pattern could also resemble a double top with a neckline at $0.000017. A breakout above that level WOULD indicate a strong bullish reversal for SHIB.
