- Continued price declines and failed resistance breakouts signal sustained downward momentum.
- An 83.84% daily drop in SHIB burns suggests weakening community participation and burn incentives.
- Holding support at $0.00001580 could push SHIB toward $0.00001620-$0.00001700, but further declines remain possible.
Shiba Inu faces ongoing difficulties in rebuilding its market position due to continued depreciation on market exchanges. The trading value of SHIB is stuck in a downward trend at $0.00001591 without showing signs of upward momentum while creating new lowest points in each sequence. Multiple failed attempts to surpass critical resistance points show that SHIB is likely to sustain its bearish movement.
The latest SHIB update shows a mixed market performance.The current market value of Shiba Inu (SHIB) has risen by 0.40% in the last hour yet experienced a 1.45% drop within 24 hours. This aligns with a broader market downturn, as the market cap has fallen to $9.31 billion, down 2.84% indicating a decrease in investor confidence and liquidity.
SHIB Burn Rate Decline With a 84%
In the past 24 hours, only 2.76 million SHIB tokens were burned, marking an 83.84% decrease, while the seven-day burn rate has plummeted by 94.82%, with only 61.08 million tokens removed. A slowdown in burns could indicate lower community engagement or reduced incentives for burn initiatives. With the total supply still at 589.26 trillion SHIB, sustained burns are essential for reducing supply and potentially boosting price.
The price of SHIB can rise toward $0.00001620-$0.00001650 if it sustains support at $0.00001580 while an extended upward trend could push the coin to $0.00001700. SHIB faces the risk of falling to $0.00001550 during increased selling pressure but subsequent losses might push it all the way down to $0.00001520 or possibly even $0.00001480.
The decline in market valuation combined with decreased burning activity demonstrates weak bullish support that makes SHIB less likely to maintain upward price movement until broader financial market sentiment improves.
Shiba Inu’s Growing Utility and Market Expansion
The evolution of Shiba Inu ($SHIB) from its meme coin beginnings includes expanding real-world functionalities which might transform it into an established mainstream digital asset. Thus,Overall, $SHIB’s future looks promising, but real adoption in mainstream finance will be key to validating this bullish outlook.
Key Levels for February 13
According to CoinCodex,a move above $0.0000162 could lead SHIB toward $ 0.00003055 dependent on increased buying volume. However, if resistance remains strong and trading volume stays low, the price could consolidate or decline.
