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Following
SHIB The amount of SHIB destruction dropped by 73.89% in 24 hours, with only 3.64 million tokens removed during this period. SHIB rebounded 3.17% to about US$0.0000457, and the RSI rose above 50, indicating an improvement in short-term momentum. 0.00000430-0.00000440 The US dollar range remains the key support, while US$0.0000500 constitutes short-term resistance for SHIB.
The destruction of Shiba Inu coins slowed down, and the price of SHIB rebounded to around US$0.0000457. According to Shibburn data, 218,192 SHIBs (about US$1) were destroyed in a transaction in the past hour. At the same time, SHIB rose 3.17% in 24 hours, bringing its market value to US$2.69 billion.
SHIB destruction activities decline during critical period
Shibburn reported that 3.64 million SHIBs were destroyed in the past 24 hours, a decrease of 73.89% from the previous period. Weekly destruction activities were also reduced, with 38.28 million SHIBs removed within seven days. 
Shibburn recorded a decline of 23.66% for the period. The most recent hour of destruction involved only one transaction. At present, the current supply of SHIB in circulation is 585.65 trillion pieces, and the total supply remains at 589.16 trillion pieces.
According to reported data, the token ranks 35th in market value. The trading price of SHIB is approximately US$0.0000457, and the 24-hour trading volume reaches US$85.33 million. The market value of the token increased by 3.14% in 24 hours.
SHIB rebounds from August support
Price movements show that SHIB fell towards the US$0.0000430 - 0.0000440 range between August 12 and 14. Previously, it was blocked many times near $0.0000500 in early August. However, SHIB has since recovered to US$0.0000457.
The rally follows a broader consolidation period that followed fluctuations at the end of July. SHIB surged above US$0.00000550 from around July 25 to 27, and then fell sharply. After that, it fluctuated within a wide range for most of the time.
The current US$0.0000430 - 0.0000440 area constitutes direct support, while US$0.0000500 remains the key resistance level.
RSI and MACD show improvement in kinetic energy
The 14-cycle RSI is currently 53.26, which is above its average of 48.74. The RSI has broken through the neutral 50 level but has not hit the 70 overbought threshold. MACD also turned moderately positive, with its histogram located around 0.0000002, and the MACD line and signal line were close to 0.00000001 and-0.0000000001 respectively. The current transaction volume is approximately 381.52 million SHIBs. The breakthrough at the end of July and the recent rebound were accompanied by strong trading volume.
If the price continues to exceed US$0.0000500 and is accompanied by heavy volume, it may hit the range of US$0.0000550 -0.00000570. On the contrary, if it falls below US$0.0000430, SHIB may face further decline.
