Shiba Inu Burn Rate Drops 47% as Golden Cross Signals Rally
Shiba Inu burn rate plunged 47.20% over the past week, with only 32.3 million SHIB tokens removed from circulation. The daily burn rate also tumbled by 78.31% to 919,747 tokens, reducing deflationary pressure.
SHIB traded around $0.00000995, down 2.21% for the week, after falling to $0.00000837 on November 4. On November 8, an hourly golden cross formed when the 50-period MA crossed above the 200-period MA, triggering an 11% rally to $0.00001027.
Traders now see support at $0.000007–$0.000008 and resistance levels at $0.00001085 and $0.00001255. Macro headwinds, including a U.S. government shutdown and weak consumer sentiment, add to market volatility. Crypto traders should monitor the Shiba Inu burn rate, volume spikes and technical analysis indicators to judge if the golden cross can sustain a bullish rebound or if low burns will delay recovery.
Neutral
While the hourly golden cross signals a potential short-term bullish reversal, the 47% plunge in the Shiba Inu burn rate soothes deflationary pressure and may curb sustained upside momentum. Support and resistance levels suggest a trading range between $0.000007 and $0.00001255, reflecting uncertain directional bias amid macroeconomic headwinds like a U.S. government shutdown. For long-term holders, the low burn rate could delay notable price appreciation, whereas short-term traders might exploit technical setups such as volume spikes and moving average crossovers. This balance of bullish indicators and bearish supply dynamics points to a neutral market impact on SHIB.