SHIBSHIBA INU Price

Shiba Inu's daily token burn rate surged over 350%, removing 12.47 million SHIB, while weekly burns increased by 32.63%. This reinforces its long-term deflationary narrative, though price action remains muted. Exchange outflows of approximately $175,000 indicate reduced immediate selling pressure as tokens move to private wallets. Concurrently, whale activity has increased, with large investors accumulating SHIB despite the subdued market. Technically, SHIB is holding key support near $0.00000409 within a descending channel. The MACD shows improving conditions, but a confirmed bullish crossover is pending. For a sustained recovery, SHIB needs to break above resistance levels at $0.00000450 and then $0.00000500. The combination of aggressive burning, accumulation by large holders, and improving technicals creates a more constructive setup, though a decisive price breakout is still required to confirm a trend reversal.

The price of Shiba Inu ($SHIB) experienced a sharp 37% rally over two days before quickly retracing part of those gains, according to analysis from Santiment. The surge was accompanied by a significant spike in social media discussion around the memecoin, reaching its highest level since early April. However, on-chain data indicates that large investors, or "whales," likely used the price pump as a selling opportunity, with 52 large transactions recorded in a single day—the highest daily count in months. Santiment suggests that while whales were likely taking profits, smaller retail investors entered the market later, driven by FOMO as prices neared their peak. This behavior may have provided the necessary liquidity for the larger holders to exit their positions.

South Korean cryptocurrency exchange Upbit moved a total of 864 billion SHIB (worth approximately $4 million) between its internal wallet addresses. The activity, involving transfers of 384 billion SHIB outbound and 480 billion SHIB inbound, occurred following a 36% SHIB price rally. On-chain data indicates this was a routine internal wallet rebalancing operation by the exchange, not a sell-off or liquidation event. The article cautions that while large on-chain transfers are highly visible, they require proper context and wallet labeling to interpret correctly. In this case, the movement between known Upbit addresses does not inherently signal a change in market supply or selling pressure for SHIB.

Meme coins continue trading under pressure as broader market uncertainty limits buying activity in the sector. Dogecoin (DOGE), Shiba Inu (SHIB), and MemeCore (M) have reached key technical levels that could determine their next move. While bearish trends still dominate most short-term charts, momentum indicators point to decreasing selling pressure. Dogecoin is struggling below key resistance, trading around $0.0692 and remaining below all major moving averages. However, the Stochastic RSI is recovering from oversold levels, hinting at potential short-term momentum improvement. A move above $0.0706 could lead to a recovery towards $0.0727, while losing support at $0.0685-$0.0677 may extend the decline. Shiba Inu is in a corrective phase below $0.00000480 but holds crucial support near its 50 EMA at $0.00000463. Its Stochastic RSI is deeply oversold, suggesting downward momentum may be weakening. Reclaiming $0.00000480 could target $0.00000505, whereas a break below $0.00000455 may expose the $0.00000400 psychological level. MemeCore shows a relatively stronger technical picture, consolidating in the $1.15-$1.19 range near its 20 and 50 EMAs. With its Stochastic RSI rising from oversold territory, a break above the 100 EMA resistance at $1.1755 could pave the way toward $1.236. Failure to hold the 50 EMA support at $1.1614 would weaken the recovery outlook, potentially testing lower supports.

Over the past 24 hours, 10.68 million SHIB tokens were burned, causing the daily burn rate to surge by 439.79%. This adds to over 173 million tokens burned in the past week and more than 3.36 billion over the last 30 days, with the monthly burn rate increasing by over 2,811%. The total burned SHIB now exceeds 410.84 trillion across 21,502 transactions. Despite most cryptocurrencies showing modest gains last week, SHIB's price fell by 1.26% in 24 hours and 7.38% over the week. Market participants are watching for a potential upward trend, as the U.S. Federal Reserve is expected to hold interest rates steady again in August. A key market indicator is the sharp decline in Tether's (USDT) market capitalization, which has dropped by nearly $4 billion over 60 days, approaching historical lows. Since stablecoins like USDT are a primary source of liquidity, such deep drawdowns have historically signaled that seller pressure may be nearing exhaustion rather than intensifying further.