- Shiba Inu (SHIB) is trading near $0.00000476 with weak short-term momentum.
- Shiba Inu burning activity has declined to about $5 SHIB per day.
- SHIB price remains below all major EMAs, maintaining a downward trend.
The Shiba Inu is trading at $0.00000476, holding a narrow range between $0.000004638 and $0.000004789 over the past 24 hours.
The memecoin has remained under pressure in recent sessions, with a daily change of -0.4%, extending broader weakness that has seen it fall 17% over the past 30 days and nearly 59% over the past year.
However, market activity remains high, with 24-hour trading volume at around $54.7 million.
SHIB price structure is narrowing as the support area comes under pressure
The Shiba Inu is testing a support area around $0.0000046, while the deeper support level is at $0.00000430.
On the upside, resistance is forming near $0.0000048, with an additional barrier at $0.00000491.
It is worth noting that SHIB trades below all major daily Exponential Moving Averages (EMAs), including the 10-day, 20-day, 50-day, 100-day, and 200-day EMAs.
This consensus places the broader trend firmly in bearish territory, with no short-term average currently supporting the price from below.
In addition, from 23 tracked technical indicators13 are bearish, 9 are neutral, and only 1 is bullish, giving the bears approximately 57% control over the signal distribution.
The RSI(14) is near 35.47 on the daily chart, while the weekly reading is near 35.68, both indicating almost oversold conditions.
While this does not confirm a reversal, it does indicate that the market is approaching levels where short-term reactions have historically occurred.
A close below $0.00000455 would expose SHIB to lower support levels, while a recovery above $0.0000048 would be required to shift short-term momentum towards $0.00000507.
Burning activity and decreased involvement of shibarium
Shiba Inu code burning activity has weakened significantly.
Data from Shipburn website It shows that daily burns have dropped to very low levels, with estimates of only about 1 million SHIB being burned per day, worth about $5.
Weekly burn totals remain similarly small, around 15 million chips, worth around $75.
At current levels, burning activity has little impact on SHIB’s overall supply dynamics.
The size of the supply reduction is too small to affect price behavior in the short or medium term, especially during periods of weak demand.
Shibarium activity has also shown limited market impact recently.
While the Layer 2 network continues to process transactions, there has been no measurable impact on SHIB’s price stability or upward momentum in recent trading sessions.
The lack of strong network-driven demand has left price action largely dependent on broader market sentiment and technical levels.
Exchange flows show accumulation, but price response remains weak
Exchange flow data presents a mixed picture.
At CryptoQuant male SHIB’s total exchange reserves have fallen to less than 80 trillion tokens.
Net outflows of approximately 266 billion SHIB were recorded within 24 hours, indicating that token holders are transferring tokens from exchanges, a behavior often associated with long-term accumulation or holding.
Despite this, the Shiba Inu price did not react strongly to the shift in flows.
SHIB continues to trade near the lower end of its recent range, suggesting that buying pressure has not yet outpaced broader selling activity.
This discrepancy between on-chain accumulation and price response highlights a market still awaiting stronger confirmation from demand-side activity.
