Shiba Inu Price Prediction: Weak Momentum Persists Even as 410 Trillion Tokens Leave Circulation
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Shiba Inu (SHIB) faces sustained bearish momentum, trading below its 20/50/100/200-day EMAs and having broken key Fibonacci levels as it sits near the $0.00000485 support. Open interest is near cycle lows, signaling weak trader confidence and reduced leverage, even as over 410 trillion SHIB have been burned supporting long-term scarcity and token burn-driven supply dynamics in the crypto market.
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See what traders are focused on
- SHIB trades below all major EMAs as persistent bearish momentum weighs on price.
- Open interest near cycle lows highlights weak trader confidence and demand for leverage.
- Over 410 trillion SHIB burned, supporting scarcity despite ongoing market weakness.
Shiba Inu (SHIB) continues to face mounting pressure as bearish sentiment dominates the market and traders reduce their exposure to the popular meme coin. Despite years of aggressive token burns that have removed trillions of SHIB from circulation, the asset remains trapped in a downtrend.
Technical Structure Remains Under Pressure
SHIB currently trades near the $0.00000485 support zone after a prolonged decline from its recent highs. The token recently broke below several important Fibonacci retracement levels, reinforcing the bearish outlook. Moreover, SHIB remains below its 20-day, 50-day, 100-day, and 200-da…
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