Shiba Inu Price Plunges, But Hold Your Horses – Is a Rebound Coming or Nah?

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Well, well, well… Shiba Inu’s price is feeling the heat, just like the rest of the crypto world. The market’s pulled back, but don’t panic-there are some interesting things happening beneath the surface. Like the token’s burn rate skyrocketing and exchange balances taking a nosedive. Is it enough to spark a little SHIB rebound? Let’s dive in, shall we?

  • Shiba Inu is still chilling just above a support level on the daily chart-nothing to write home about yet.
  • The burn rate? It’s up by a mind-boggling 2,000% in the last 24 hours. Talk about going out with a bang.
  • Meanwhile, the supply of SHIB tokens on exchanges has been plummeting faster than your self-esteem after checking your crypto portfolio.

Shiba Inu (SHIB), the reigning meme king of Ethereum, is sitting pretty at $0.0000090. Barely. It’s just above the “do not pass go, do not collect $200” level of $0.00000853. In case you’re wondering, it’s still down 65% from its peak earlier this year. But hey, who’s counting?

But here’s where it gets juicy: SHIB’s burn rate has gone insane. According to Shiburn, the burn rate jumped by nearly 2,000% on Saturday to 4.14 million tokens. And how did this happen? Oh, just one user casually tossing 2.14 million tokens into the void and another one following up with a cool $1.97 million. No big deal, right?

And the burns don’t stop there. One enthusiastic user torched 180 million tokens on Wednesday, and another went all-in with 621 million a day earlier. Talk about commitment to the cause.

Crypto enthusiasts love token burns because they technically reduce inflation. It’s like stock buybacks, but with none of the juicy profit potential. Instead, token burns just shrink the supply. A win in some eyes, but let’s be real, it’s still a little underwhelming.

Another thing to keep in mind is that SHIB is actually leaving exchanges. The supply on exchanges has dropped from 295 million tokens in August to 285 million today. That means investors are not rushing to dump their tokens in the middle of the market slump. A small victory, but a victory nonetheless.

And just when you thought it couldn’t get more complicated, we’ve got Shibarium. After the whole ShibaSwap debacle, the network is actually showing signs of improvement. Total value locked? Up 124% in the last 30 days to over $1.8 million. A good sign for SHIB fans, but let’s not get too carried away.

Shiba Inu Price Technical Analysis: Strap In

Looking at the daily chart, SHIB’s price has fallen from $0.00001756 in May to a pitiful $0.0000090. It’s forming a descending triangle pattern (super fancy term, I know), with the bottom of this triangle at $0.00001020.

Right now, the token is hanging out below the 50-day and 25-day Exponential Moving Averages. It’s also chilling under the key support level of $0.00001020. So, yeah… not exactly thriving.

But wait, there’s a silver lining-SHIB is holding on to a support level at $0.0000085. So, if it drops below that, we might be in for a real nosedive, potentially hitting $0.0000050. But if it breaks through that resistance level at $0.000010, well, we might just see a glimmer of hope. But, you know, no pressure.

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2025-11-15 15:53