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Following
SHIB Shiba Inu rebounded tested resistance at US$0.000006, destruction surged
Currently, Shiba Inu's trading price remains around US$0.0000590, continuing most of the rally since the low of US$0.000005 earlier this month. Today, the price of the memin once hit an intraday high close to US$0.0000602, and then fell slightly, leaving the SHIB price slightly below the resistance level that market participants believe is crucial to sustained recovery.
Analysis of key resistance levels
Technical analysis shows that the US$0.000060 to 0.000061 range is the first important breakthrough area. Analysts pointed out that if SHIB can decisively break through this range with heavy buying, the next target price may look towards US$0.000067 and then extend further to approximately US$0.000072.
In the first half of this month, the technical situation appeared significantly weak. On September 16, after multiple failed attempts to recover higher prices, SHIB was testing support levels between $0.000051 and $0.0000052. At the time, analysts identified this area as the key dividing line between stability and a new round of decline.
However, in just three days, the token rebounded nearly 6% to climb to the $0.000054 range, and the recovery then accelerated as buyers began to enter, prompting SHIB to directly re-test the $0.00006 area. Previous reports have pointed out that $0.000055 to $0.000056 is the initial barrier, and $0.00006 is the next key threshold.
The situation has now shifted: $0.000060 to $0.000061 is no longer a distant milestone, but an immediate breakthrough challenge for SHIB.
Destruction rates accelerate but price trends dominate
Destruction activities within the Shiba Inu ecosystem have also increased. Shibburn data shows that as of September 20, 72.23 million SHIB tokens have been destroyed in the past 24 hours, and the daily destruction rate has soared by more than 31,000%. In the first seven days, a total of approximately 111.4 million SHIB tokens were destroyed.
However, due to the extremely low base, such a large percentage increase may exaggerate its actual impact. Previous analysis has shown that even major destruction peaks occur, due to the extremely large circulation supply of SHIB, their short-term impact on prices is often limited.
For SHIB, to maintain the rebound momentum, traders pointed out that the US$0.000060 to US$0.000061 area must be transformed from resistance to solid support. Clearing this barrier will increase the probability of a further rise to $0.000067, or even potentially $0.000072, as the next upside target.
If prices fall below the US$0.000057 region, market observers warn that the recent rally may be just another short-lived rally rather than the beginning of a meaningful high trend.
Given the high volatility and high sensitivity to trend changes, monitoring technical indicators and investor sentiment is crucial. In this context, online trends in the memin market can quickly attract millions of dollars of attention. For example, there were reports that a deal involving "Niu Lai" was eye-catching, with an initial investment of US$99 eventually increasing to approximately US$370,000. In this case, not only tracking prices, but also paying close attention to investors 'timing and token selection has proven crucial.
