After a 108,000% Burn Spike, Will Shiba Inu Price Hit $0.000016 Next?

Shiba Inu price has drawn renewed attention after a record 108,000% spike in burn rate, signaling revived investor activity. The meme token has staged a 60% rebound from its recent lows, reflecting strong buying interest around critical support levels. Despite recent volatility, SHIB’s technical structure shows signs of recovery as buyers regain control. 

Meanwhile, improved on-chain signals and broader market strength could reinforce bullish sentiment. Still, investors remain cautious as SHIB attempts to establish stability before a potential breakout.

Shiba Inu Price Recovery Builds Toward Key Resistance Levels

At the time of press, SHIB value trades at $0.00000988, marking a consistent recovery from its October bottom near $0.0000088. The price has rebounded sharply from a descending support line, forming a potential bullish reversal pattern. 

Moreover, the recent upswing suggests that buyers are steadily absorbing selling pressure around this zone. The chart highlights the next resistance levels at $0.0000110 and $0.0000129, which could define near-term direction. 

A decisive move above these thresholds may open a 60% rally toward $0.000016, reinforcing optimism around the Shiba Inu price outlook. Furthermore, holding above the ascending trajectory may confirm this as a structural recovery phase.

Indicators Signal Strength in SHIB Price Outlook

Both RSI and MACD readings reinforce improving strength in SHIB price movement. The RSI has climbed to 48, gradually recovering from oversold regions and approaching equilibrium territory. This indicates steady buyer re-entry, reducing prior selling dominance across the chart. 

Additionally, the MACD line has crossed above the signal line, showing early bullish divergence as histogram bars turn green. This transition often hints at a broader trend reversal that could extend into the coming weeks. 

Therefore, the improving momentum across these indicators aligns with an encouraging SHIB long-term forecast, suggesting potential continuation toward higher resistance zones.

Shiba Inu Burn Rate Surge Sparks Renewed Optimism

The Shiba Inu ecosystem has recorded a massive 108,495% surge in burn activity, with over 184 million tokens destroyed in the past 24 hours, according to Shibburn. This extraordinary increase points to growing community participation and an aggressive supply reduction effort. 

Such accelerated burns can positively affect price dynamics by tightening circulating supply and boosting perceived scarcity. Meanwhile, consistent burning at this rate could help sustain the ongoing recovery phase and attract further market confidence. 

Notably, an expert recently predicted a potential 200% Shiba Inu price surge, citing the deflationary strength behind this trend. As a result, the remarkable burn rate spike strengthens the bullish foundation around the Shiba Inu price as the token aims for a potential push above the $0.000016 target.

Summary

Shiba Inu’s market structure is gradually improving as technical indicators and burn activity align. Sustaining buying strength above $0.0000098 could validate the recovery and extend gains further. A breakout above $0.0000110 may confirm a bullish continuation toward $0.000016. Overall, the current setup supports a confident tone for SHIB’s ongoing recovery phase.