- Shiba Inu trades near $0.00000600 despite massive burns, with $0.00000600 key support.
- Price remains bearish, risking further drops.
Shiba Inu faces pressure as its price hovers near a critical support level despite a massive surge in token burns. SHIB is trading around $0.00000600 after a prolonged decline that began in mid-2025. Even with intensified efforts to reduce supply, broader market trends continue to weigh on the price.
Burn Rate Explosion Fails to Change Market Direction
Over the past 24 hours, SHIB’s burn rate surged by more than 173,000%, with over 838,000 tokens permanently removed from circulation. This pushed the total burned supply to over 410 trillion SHIB, leaving roughly 585 trillion tokens still circulating.
In theory, aggressive token burns should support the price by tightening supply. However, SHIB’s continued decline highlights a clear imbalance between supply reduction and demand. When burn activity accelerates, but price weakens, it often signals that selling pressure and low buyer interest are outweighing any deflationary benefits. For now, the burn mechanism alone has not been enough to reverse the broader downtrend.
Daily Chart Signals Ongoing Downtrend
From a technical perspective, SHIB recently broke below a descending trendline that had capped price rallies for months. This breakdown reinforces the bearish structure that has been in place since the token peaked above $0.00001600 in July 2025.
Key indicators remain unfavorable. The Supertrend has flipped bearish near $0.00000727, while the Parabolic SAR points toward a possible stabilization zone around $0.00000517. The $0.00000600 level now acts as psychological support. A daily close below it would likely expose lower demand areas, while a move back above $0.00000700 would be required to ease downside pressure.
Short-Term Consolidation Hints at Imminent Move
On the 30-minute chart, SHIB is consolidating within an ascending triangle. Buyers are defending higher lows from the $0.00000578 area, but repeated rejections near $0.00000605 show sellers remain active. RSI is neutral, while MACD remains flat, reflecting indecision.
This tightening range suggests a decisive move may be close. A break above resistance could open the door to $0.00000620 and higher, while a breakdown below support risks renewed weakness toward $0.00000578 and potentially $0.00000517.
Outlook: Support Holds or Breakdown Accelerates
SHIB’s next direction depends on whether bulls can defend $0.00000600 and reclaim higher resistance levels. Until a clear reversal emerges, the overall structure remains tilted to the downside, despite the dramatic rise in burn activity.
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