Shiba Inu Burn Rate Surges 1300%—Price Eyes $0.00001392 Breakout

SHIB could be about to break out as analyst @‌ALLINCRYPTO points out a falling wedge. This setup—where two downward trendlines converge—often precedes a big up move once it breaks.

Since late 2023 SHIB has been trending down in this wedge, so we are due for a reversal. With overall crypto sentiment turning positive and Bitcoin above $94,000 SHIB has followed and is up 11% this week.

Now at $0.00001313 SHIB is ready to take advantage of the technicals if buying momentum can reclaim the key resistance.

1300% Burn Rate Spike Boosts SHIB Outlook

Adding to the bullish setup is a massive burn. In the last 24 hours 27.82 million SHIB were burned, a 1361% increase in burn rate according to Shibburn. This deflationary move reduces token supply, often a precursor to price increase.

Key Burn Stats:

• 27.82M tokens burned in 24 hours

• 1361% intraday burn rate surge

This sudden increase in token destruction has boosted investor confidence as SHIB’s circulating supply tightens.

Technical Setup: Support Holding at $0.00001300

Price is currently at the confluence of $0.00001300 where the ascending trendline, 50-period EMA, and 0.5 Fibonacci retracement meet. This is a psychological and structural support.

The MACD histogram is fading but not yet reversing. Wait for a bounce from support or a clean break above $0.00001351 to confirm.

Trade Setup:

• Buy Entry 1: Bounce from $0.00001300 with confirmation

• Buy Entry 2: Break above $0.00001351 with volume

• Targets: $0.00001351 and $0.00001392

• Stop Loss: Below $0.00001285$0.0000141 by end of month if SHIB holds and overall market stays good.