Key Insights
- Shiba Inu price remains inside a symmetrical triangle, compressed between $0.00001400 resistance and $0.00001100 support, signaling possible volatility ahead.
- A 201,207% burn rate surge in 24 hours, destroying 4.5 million SHIB, adds momentum to bullish expectations and scarcity narratives.
- Exchange data shows nearly three trillion SHIB on Bybit, reinforcing the token’s widespread positioning across investor portfolios as consolidation continues.
Shiba Inu traded near $0.00001235, maintaining its position above a key support level. The token has moved within a narrow range as traders closely monitor a potential breakout. The price has tested resistance around $0.00001400 several times but has not managed to break higher.
The chart shows SHIB consolidating within a symmetrical triangle pattern. Support near $0.00001100 has cushioned declines, while resistance remains firm. This pattern indicates that volatility could sharply increase once the price escapes the structure. Measured projections from the triangle point toward $0.00003000, suggesting a possible rally if the breakout turns upward.
Formation of Higher Lows
Market positioning indicates repeated attempts to form higher lows, which strengthens bullish sentiment. Liquidity clusters are visible near resistance levels, aligning with potential triggers for a stronger price move. This structure reflects growing pressure that could result in a decisive resolution.
Community-driven supply reduction efforts gained attention after SHIB’s burn rate surged more than 201,207% within 24 hours. Over 4.5 million tokens were destroyed during this period, according to Shibburn. While the total supply remains large, the pace of burning provides psychological support for scarcity narratives.
Broader Market Context
Bybit’s recent audit confirmed holdings of nearly three trillion SHIB, highlighting the token’s widespread adoption across exchange portfolios. Around 40% of the total supply is already sent to the burn address, strengthening the argument for reduced availability over time.
The convergence of a tightening technical structure and accelerating burn activity has raised expectations of a breakout. Traders are watching closely for confirmation above resistance, which could open the way for extended gains. With speculative demand still strong in meme tokens, the positioning of SHIB within this range is significant for its near-term direction.
