Shiba Inu’s Massive Coin Burn Signals Bold Market Movements
2025-07-06 14:56:01
Main Idea
The Shiba Inu ecosystem recently conducted a significant coin burn of 9.5 million SHIB, aiming to boost its market value, while its price approaches a key technical resistance level.
Key Points
1. Shiba Inu removed 9.5 million SHIB from circulation in a significant coin burn event.
2. The SHIB price is nearing a critical 26-day exponential moving average (EMA) resistance at $0.0000118.
3. Historically, this resistance level has shown weak buying interest, but SHIB rebounded from $0.0000110, targeting $0.0000120.
4. The Relative Strength Index (RSI) recovery from oversold territory suggests a potential trend reversal.
5. Clearing the 26 EMA is crucial for further price movement; failure to do so may lead to deeper consolidation.
Description
The Shiba Inu ecosystem saw a major coin burn, removing 9.5 million SHIB. This burn aims to increase demand but has yet to affect the coin's price significantly. Continue Reading: Shiba Inu’s Massive Coin Burn Signals Bold Market Movements The post Shiba Inu’s Massive Coin Burn Signals Bold Market Movements appeared first on COINTURK NEWS .
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