Shiba Inu (SHIB) just witnessed one of its most dramatic burn events yet—over 116 million tokens were removed from circulation in a single night, pushing the burn rate to a jaw-dropping 112,000%. This unexpected development has reignited community interest and fueled speculation about a possible price rebound. As investors watch closely for signs of a breakout, the question remains: is this burn a catalyst for SHIB’s next rally—or just another flicker in a bearish trend? Will Shiba Inu (SHIB) Bounce Back or Fall Further? Source: tradingview Shiba Inu's price is hovering between $0.00001178 and $0.00001333, with bears holding ground. SHIB is facing stiff resistance at $0.00001416 and has support at $0.00001106, making bulls appear weak. The 10-day moving average is close to the current prices, but it's below the 100-day average, signaling a downward trend. Its price has dropped over 56% in six months, showing limited growth. However, breaking through $0.00001416 could spark a rally towards the next resistance of $0.00001571, a potential climb of around 19%. The relative strength index sits near neutral, hinting at a possible shift in momentum if buying interest grows. Conclusion Despite the massive token burn, Shiba Inu’s price remains caught in a tight range, with bearish momentum still in control. However, if bulls manage to break through the key resistance at $0.00001416, it could trigger a near 20% rally. While the short-term outlook is uncertain, the unprecedented spike in SHIB’s burn rate could gradually tighten supply—and potentially lay the groundwork for future upside. For now, all eyes are on whether this burn marks a turning point or a temporary spark in SHIB’s ongoing consolidation. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
