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SHIB SHIB is facing selling pressure, and falling burn rates weaken key bullish factors.
Once it falls below US$0.00000460, SHIB may face a downside risk of more than 10%. Weak retail sentiment and the postponement of the CLARITY bill vote have further exacerbated the pressure on SHIB.
Shiba Inu is facing a new round of selling pressure and traders are becoming more cautious. After the recent weakening of the cryptocurrency market, it is difficult for SHIB to maintain its upward momentum. The token burn rate continues to decline, adding new concerns to holders. At the same time, amid the overall market uncertainty, retail demand does not seem strong enough. Currently, SHIB is testing an important technical support area. If it falls decisively below this support level, this memecoin may face a deeper correction. Traders are closely watching whether buyers can hold on to the current price range.
Falling burn rate drags down Shiba Inu coins
On Saturday, Shiba Inu burned more than 97 million tokens. The increase is consistent with a rebound in tokens earlier this week. However, burning activity has declined significantly since then. The daily burn volume dropped to just 6.62 million on Thursday. This decline suggests a weakening of supply contraction in the Shiba Inu ecosystem. Lower burn rates could weaken a potential source of long-term support. As a result, during the current correction period, traders are likely to focus more on burning activity.
The decline comes as SHIB faces weak retail demand. When market sentiment turns defensive, memes tend to react quickly. During risk-averse periods, investors tend to reduce their exposure to speculative assets. Recent delays in voting on the CLARITY bill have further increased uncertainty. The bill may affect the overall regulatory environment for digital assets. This uncertainty also suppresses risk appetite in the cryptocurrency market.
SHIB futures data shows mixed signals from leveraged traders. CoinGlass data showed that open interest in futures was approximately US$43.53 million. The number has remained relatively stable over the past 24 hours. However, during the same period, the long liquidation amount reached US$172.39 million, while the short liquidation amount was only US$17.67 million. This imbalance suggests that long traders are facing greater pressure.
SHIB faces a 10% downside risk, and key support levels are urgent.
If the daily closing price decisively falls below this support area, it may strengthen the bearish pattern. This move could push SHIB into the $0.0000405 area. This target has more than 10% downside compared to the current market price. If prices fall below two support levels, sellers may gain more confidence.
The Relative Strength Index (RSI) also showed weakening buying momentum. The daily RSI is currently near 49 and has fallen below the important 50-mid-line. This suggests that buyers have lost some short-term control. However, the RSI has not yet entered a deeply oversold area.
If buyers can hold on to the current support area, SHIB may still rebound. A rebound from the 50-day exponential moving average (EMA) may target $0.0000498. This level coincides with the 100-day EMA and is the first important upward resistance level. A stronger rally could push SHIB to $0.0000538.
