What to know:
- Shiba Inu (SHIB) is still in a downtrend, but hey, it bounced back from the depths of despair, trading at $0.000012650.
- The daily burn rate? Down by a whopping 63%. Not great if you’re hoping for deflationary magic. Meanwhile, trading volume surged by 78%—because why not?
- Some on-chain data is saying there might be support between $0.000012 and $0.000013. Not much, but it’s something. Investors seem to like these levels.
Shiba Inu (SHIB) is still stuck in a downtrend, like that one friend who refuses to leave a bad relationship. It managed to claw its way up to $0.000012650, but it had a rough night, dipping as low as $0.00001234. Remember those high points from May 12 and May 23? Yeah, they’re still holding up that downward line. But don’t worry, the story’s not over yet—probably.
Now, about that daily burn rate: it’s plummeted by 63%. That’s right, 63%. Who’s in charge of this burning thing, anyway? It’s supposed to help make SHIB scarce. But now it’s just… slow. Trading volume jumped by 78%, though, so at least someone’s buying it. But hey, burning tokens to make the supply smaller is just too old-fashioned, right?
It’s like someone saying, “Hey, let’s just throw a little fire on that pile of tokens and make them disappear.” But no, now they’re taking it easy on the flames. And you know what happens when you don’t burn enough? Your tokenomics get sluggish. So, yeah, SHIB has to pick up the pace.
On-chain data, ever the optimist, points to $0.000012 and $0.000013 as potential support zones. So, if you’re looking for a silver lining, here it is. Or maybe it’s just aluminum foil—who knows.
Key on-chain and technical insights
- Despite the downward spiral, some die-hard SHIB holders are clinging to their coins like it’s the last donut at the office. Their cost basis? Around $0.000012 to $0.000013, which means these price levels could turn into a ‘defend at all costs’ zone. Well, good luck with that.
- In the last 24 hours, support appeared around $0.00001236. No, it’s not a typo, it really did show up. Buying volume was strong, so maybe some folks are starting to hoard SHIB at these low prices. Smart or desperate? You decide.
- Trading volume spiked at 08:02—over 14.9 billion. That’s not a typo either. Could be a sign of optimism or just a caffeine-fueled buying frenzy. Either way, it pushed prices up for a bit. You can’t argue with momentum… even if it’s short-lived.
- By the end of the day, prices seemed to stabilize. Consolidation? Or a pause before the next big move? Yeah, probably a pause. Because who doesn’t love a good cliffhanger?
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2025-06-09 13:53