SHIB burns fell 73.89% over 24 hours, with just 3.64 million tokens removed during the period. SHIB recovered 3.17% to around $0.00000457 as RSI moved above 50, signaling improving short-term
Shiba Inu burn activity has slowed as SHIB rebounds toward $0.00000457. According to Shibburn, 218,192 SHIB worth about $1 was removed through one transaction during the latest hour. Meanwhile, SHIB gained 3.17% over 24 hours, while its market capitalization reached $2.69 billion.
Shibburn reported 3.64 million SHIB burned during the past 24 hours. That figure represents a 73.89% decline in burn activity over the period. Weekly activity also fell, with 38.28 million SHIB removed over seven days.
Source: Shibburn Shibburn recorded a 23.66% decrease for that period. The latest hourly burn involved just one transaction. Meanwhile, SHIB's circulating supply stood at 585.65 trillion tokens. Total supply remained at 589.16 trillion SHIB.
The token ranked No. 35 by market capitalization, according to the reported figures. SHIB traded around $0.00000457, while 24-hour trading volume reached $85.33 million. The token's market capitalization increased 3.14% over 24 hours.
Price action shows SHIB falling toward $0.00000430-$0.00000440 between August 12 and 14. The decline followed repeated failures around the $0.00000500 area earlier in August. However, SHIB has since recovered toward $0.00000457.
Source: Santiment The move follows a broader consolidation period after late-July volatility. SHIB surged above $0.00000550 around July 25-27 before retreating sharply. It then spent much of the following period moving within a wider range.
The $0.00000430-$0.00000440 area currently represents immediate support. Meanwhile, $0.00000500 remains the key resistance level.
The 14-period RSI currently stands at 53.26, above its average near 48.74. RSI has also moved above the neutral 50 level without reaching the 70 overbought threshold. The MACD has turned mildly positive as well.
Its histogram stands near 0.00000002, while MACD and signal readings are near 0.00000001 and -0.00000001. Volume currently stands around 381.52 million SHIB. Stronger volume accompanied the late-July breakout and the latest rebound.
A sustained move above $0.00000500 with stronger volume could expose $0.00000550-$0.00000570. Conversely, a drop below $0.00000430 could expose SHIB to another decline.
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