Potential to reach New ATH
1000SHIB / TetherUS PERPETUAL CONTRACT BINANCE:1000SHIBUSDT.P
shibausdt 
SHIBUSDT
Considering Shiba's weekly price movement, it has the potential to reach a new all-time high (ATH) again. Let's wait and see
Saturday, January 11, 2025
January 11, 2025 at 02:36AM Potential to reach New ATH
Friday, January 10, 2025
January 10, 2025 at 06:41PM SHIBUSDT.1D
SHIBUSDT.1D
SHIB / TetherUS BINANCE:SHIBUSDT
After thoroughly analyzing the chart, I’ve observed key technical dynamics in SHIB/USDT’s price action, which suggest significant upcoming opportunities depending on market conditions.
Trend Analysis
SHIB is currently in a gradual uptrend, supported by the ascending trendline (S1). This indicates that buyers are stepping in consistently at higher levels, which is a positive sign for maintaining bullish momentum. However, the price is consolidating between critical resistance (R1) and support levels, reflecting a period of indecision.
Support & Resistance Levels
Resistance 1 (R1): $0.00003255
This level has acted as a strong rejection zone in the past, and a breakout above it is crucial for further upside potential.
Resistance 2 (R2): $0.00004563
The upper resistance level marks a significant target if bullish momentum gains strength beyond R1. This would also align with previous highs.
Support 1 (S1): $0.00002156
This is the current support provided by the ascending trendline. A breakdown below this level could weaken the bullish structure.
Support 2 (S2): $0.00001638
This represents a historical support level and a key zone to watch in case of a bearish breakdown.
Technical Indicators
MACD (12,26,Close):
The MACD line is close to the signal line, with the histogram showing minimal momentum. This indicates a neutral state, with neither bulls nor bears dominating at the moment.
RSI (14,Close):
The RSI is currently at 44.00, slightly below neutral but not yet oversold. This suggests that the price still has room to rebound if buyers step in.
Chart Patterns & Price Action
The price action suggests higher lows along the ascending trendline (S1), reinforcing a bullish bias. However, the inability to break through R1 in recent attempts indicates strong selling pressure at higher levels.
A potential bullish breakout is forming, as indicated by the upward arrow in the chart. If the price holds above S1, the likelihood of retesting R1 and eventually R2 increases significantly.
Projection & Scenario Analysis
Bullish Scenario:
A successful breakout above R1 ($0.00003255) would likely lead to a test of R2 ($0.00004563).
Sustained bullish momentum could even push SHIB higher, potentially targeting levels near $0.00006500, aligning with previous rallies.
Bearish Scenario:
If SHIB fails to hold above S1, a breakdown could lead to a test of S2 ($0.00001638).
A failure to hold S2 would signal a deeper correction, with potential downside targets near $0.00001000.
Conclusion
In conclusion, SHIB is trading in a pivotal zone. While the ascending trendline (S1) supports the bullish outlook, the inability to break R1 suggests caution. I remain cautiously optimistic, expecting a breakout above R1 if S1 continues to hold. However, I would closely monitor the support levels for any bearish breakdowns.
For now, patience is key, as confirmation of a breakout or breakdown will dictate the next significant move.
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Thursday, January 9, 2025
January 09, 2025 at 11:30AM Shiba Inu Burn Rate Slips 72%; What’s Next for SHIB Price?
Shiba Inu Burn Rate Slips 72%; What’s Next for SHIB Price?
SHIBA INU / Tether COINBASE:SHIBUSDT
The Shiba Inu community’s consistent efforts to reduce token supply hit a snag recently, as the burn rate plummeted 72% in just 24 hours. This decline has raised concerns among investors, particularly as SHIB’s price experienced a simultaneous dip amid a broader crypto market selloff. However, there are signs that SHIB’s future may not be as bleak as it seems, with both technical and fundamental factors coming into play.
Shiba Inu Burn Rate: A Key Market Indicator
Token burns have been a critical part of the Shiba Inu ecosystem, aimed at reducing supply and creating scarcity to drive up the token’s value. Over 2024, the community successfully burned 44.62 billion tokens, demonstrating strong commitment despite challenges.
Recent data from Shibburn reveals that the burn rate fell by 71.56% in the last 24 hours, with only 8.73 million SHIB tokens burned. The two largest burns, conducted by the same account, totaled just under 900,000 tokens. While this represents a sharp decline, it’s worth noting that the burn rate over the past seven days surged 164.53%, with over 102.86 billion tokens removed from circulation. These mixed signals highlight the need for careful analysis of SHIB’s potential trajectory.
Technical Analysis
As of now, SHIB is trading at $0.0000213, up 0.40% in the past 24 hours. The Relative Strength Index (RSI) sits at 33, indicating oversold conditions. This suggests a potential reversal if buying pressure increases. Immediate support is identified at $0.0000180, which could serve as a critical demand zone.
However, SHIB’s price movement is closely tied to Bitcoin’s performance. Should BTC dip to the $70,000-$80,000 range, SHIB’s support level may flip into a resistance zone, leading to further price declines. On the flip side, SHIB Futures Open Interest rose 34%, signaling strong market momentum that could drive a recovery if broader market conditions improve.
Ecosystem Developments
Shiba Inu’s fundamentals are also evolving, with new developments boosting market sentiment. Lead Developer Shytoshi Kusama recently outlined a vision for transforming SHIB from a meme coin to a “Shib Network State,” emphasizing the utilities of ecosystem tokens like SHIB, BONE, LEASH, and the soon-to-be-launched TREAT.
The TREAT token, set to launch on January 14, has generated significant excitement within the community. Many analysts believe this could catalyze SHIB’s price recovery, especially if paired with broader market improvements. Additionally, the Shiba Inu community’s continued dedication to burning tokens remains a cornerstone of its strategy to enhance value.
Market Sentiment and Broader Trends
The general crypto market sentiment remains bearish, with the Fear and Greed Index dropping to 42. Despite this, SHIB has shown resilience, rising 0.47% in the last trading session—a modest gain but notable in a declining market.
Conclusion
While the sharp decline in Shiba Inu’s burn rate raises concerns, the token’s oversold technical indicators and ongoing ecosystem developments suggest potential for recovery. Investors should closely monitor key support levels, Bitcoin’s price action, and upcoming milestones like the TREAT token launch. With strong community backing and strategic advancements, SHIB may yet reclaim its momentum in the evolving crypto landscape.
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