Shiba Inu (SHIB), the second piece of memes in the world, is ready for a price resumption due to an optimistic price action and an impressive 24 -hour burning rate. The data from the Shib Burn Tracker recently revealed in an article on X (formerly Twitter) that the meter -piece burning rate increased by 4,137.17%, with 31,556,987 shib chips burned in the last 24 hours.
Shiba Inu (Shib)
This significant increase in the burning rate has drawn considerable attention to crypto enthusiasts, as it could help reduce supply and cause additional price dynamics. Shib is currently negotiating almost $ 0.0000143 and has recorded a modest price increase of more than 0.50% in the last 24 hours. However, the memes piece has lost more than 22% of its value in the last 30 days.
Shib price action and upcoming level
With this significant drop in prices, SHIB recently retests a crucial level of support at $ 0.000013, which has always acted as a rebound area. According to an expert technical analysis, Shib seems to be lower and could decrease by 20% in the coming days. This downward perspective is driven by the negative feeling of the dominant market and the formation of a Doji candle at the level of resistance of $ 0.0000,15.
In the midst of the lower price action, traders seem to lose interest, which apparently abandons Shib trading. Data analysis company data Rinsing reveals that Shib’s Futures Open Interest (OI) fell from $ 531 million to $ 151 million, this number continuing to decrease.
Main liquidation zones
At the time of the press, the main liquidation zones are $ 0.00001413 on the lower side and $ 0.000015 on the upper side, with traders over-placed at these levels.
If the feeling of the market remains unchanged and the price falls to the mark of $ 0.00001413, almost $ 350,000 in long positions will be liquidated. Conversely, if the feeling changes and the price increases at the bar by $ 0.0000,15, almost $ 750,000 in short positions will be liquidated.
These chain measures reveal that active merchants are currently leased on Shib, believing that the price of the memes piece will not cross the brand of $ 0.000015 as soon as it is.