SHIB Price Stalls Despite Burning 31.5 Million Tokens: Future

! SHIB price stalls despite burning 31.5 million tokens: futuresShiba Inu (SHIB), the world’s 2nd largest meme cryptocurrency, is gearing up for a price recovery thanks to positive price action and impressive token burn rates in the last 24 hours. Data from burn tracker app SHIB recently revealed on X (trước this is Twitter) that the meme cryptocurrency’s token burn rate has skyrocketed to 4,137.17%, with 31,556,987 SHIB tokens burned in the last 24 hours.

SHIBSHIB Time Update Price: $0.00001441 (1 0.69% ▲ ▲ | 24 hours 2.04% ▲ )
Market Cap: $8,501,425,207 (2.06% ▲)
Total supply: 589.255.346.351.380 Tokens burned
In 24 hours: 31,556,987 (4137.17% ▲)
In 7 days: 142.062.714 (50.8% ▲)

— Shibburn (@shibburn) February 27, 2025

Shiba Inu price trend (SHIB)

The rapid increase in the burn rate has attracted the attention of many cryptocurrency enthusiasts, as it can help reduce the supply and drive price trends. Currently, SHIB is trading near 0.0000143 USD and has recorded a modest increase of more than 0.50% in the past 24 hours. However, this Meme Coin has lost over 22% of its value in the last 30 days.

SHIB price action and upcoming levels

With this significant price drop, SHIB has just retested the key support level at 0.000013 USD, which has been a historical bounce area. According to technical analysis from experts, SHIB seems to continue to decline and could drop another 20% in the coming days. This negative outlook is driven by market pessimism and the formation of a doji candle pattern at the resistance level of 0.000015 USD.

Source: TradingView In the context of price decline, traders seem to lose interest, seemingly abandoning SHIB trading. Data from the on-chain analysis company Coinglass reveals that the open interest (OI) of SHIB futures contracts has decreased from 531 million USD to 151 million USD, and this figure is still decreasing.

Source: Coinglass

Main liquidation area

Currently, the main liquidation zones are located at $0.00001413 lower and $0.000015 higher, with traders over-leveraged at these levels.

! SHIB price stalls despite burning 31.5 million tokens: Futures - Bitcoin news - Latest coin news updates 24/7 2025Nguồn: Coinglass If the market sentiment does not change and the price drops to 0.00001413 USD, nearly 350K USD value of the long positions will be liquidated. Conversely, if the sentiment changes and the price rises to 0.000015 USD, nearly 750K USD value of the short positions will be liquidated.

These on-chain data reveal that current traders are negatively assessing SHIB, believing that the price of this Meme Coin will not surpass the 0.000015 USD level in the short term.

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