Shiba Inu shows relative weakness versus broader crypto markets despite late-session bounce, with token burns failing to offset selling pressure during volatile trading.
Shiba Inu shows relative weakness versus broader crypto markets despite late-session bounce, with token burns failing to offset selling pressure during volatile trading."SHIB dips 1.5% amid stalled technical recovery and ongoing selling pressure despite accelerated token burns and a late-session bounce.
"Bitcoin dropped below its 200-day simple moving average., the world's second-largest meme token by market value, has dropped over 5% in 24 hours, taking cues from the risk-off mood in the broader market characterized by bitcoin's drop below its 200-day simple moving average. SHIB has dropped to $0.00000951 from $0.00001018, closing on key support zone, which marked downside exhaustion through October. BTC, too, has dropped reversing the brief move above the 200-day SMA over the weekend, although its relative resilient.Token burning accelerated with over 1 million SHIB removed from circulation during recent sessions. Weekly burn metrics surged 139.46% despite daily burn rates declining 86.53%, blockchain data shows. The deflationary mechanics proved insufficient against selling pressure during volatile trading periods. Morning volume spiked to 619.8 billion tokens as resistance at $0.00001021 held firm while sellers push through multiple support zones.With token burns providing fundamental support while technicals revealed sharp intraday reversals, competing forces highlight SHIB's positioning challenges against market dynamics. Hourly analysis captured SHIB's dramatic bounce from $0.00000957 to $0.00000971 late Sunday, delivering 1.46% gains with momentum accelerating in final trading minutes. Volume surged to 48.2 billion tokens as price broke above $0.00000969 resistance, creating bullish reversal patterns targeting $0.00000975-$0.00000980 levels while negating earlier bearish sentiment. However, structural headwinds persisted for meme tokens as SHIB extended an 11-month bearish phase within its two-year pattern of brief rallies followed by extended declines. Whale selling pressure intensified with over 40 billion tokens moved to major exchanges recently, weighing on sentiment despite short-term technical improvements.Support/Resistance: Primary support holds at $0.00000955-$0.00000970 zone while resistance at $0.00001021 confirmed during morning volume surge Volume Analysis: 24-hour volume runs 6.13% above 7-day averages, showing limited institutional interest despite late-session spike to 48.2B tokens Chart Patterns: Sharp reversal from session lows with breakout above $0.00000969 resistance targets $0.00000975-$0.00000980 continuation levels Targets & Risk/Reward: Upside resistance at $0.00000975-$0.00000980 zone versus downside risk to $0.00000955 support if recovery momentum fadesThe CoinDesk 5 Index tumbled from $1940.27 to $1873.70, erasing $66.57 as momentum turns decisively bearish after breaking $1914 support despite brief recovery attempt to $1937.46.Stablecoin payment volumes have grown to $19.4B year-to-date in 2025. OwlTing aims to capture this market by developing payment infrastructure that processes transactions in seconds for fractions of a cent. The monthly average network hashrate, a proxy for competition in the industry and mining difficulty, rose 5% to 1,082 EH/s.Mining profitability fell as daily block reward revenue and block reward gross profit both declined.
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