Key Insights:
- Shiba Inu price targets $0.000016 if resistance at $0.000014 holds firm.
- Exchange inflow experienced a 200% increase, indicating a hint of volatility and strong interest from traders.
- Ongoing token burns maintain the long-term price strength despite the slower burn rate.
Shiba Inu price has climbed above $0.000014 after weeks of sideways action. The rally follows a strong bounce from the $0.000012 support zone.
This has led to dip-buying and increased market participation. Analysts now closely monitor key resistance levels, as technical patterns suggest a potential sharp shift in the future.
Shiba Inu Price Breakout Tests Key Resistance
SHIB price traded near $0.00001224, challenging a key resistance area that could determine its next direction. Daily closing above this level will pave the way to $0.00001550-$0.00001600 in the coming days.
The $0.00001200 area has proven to be solid support during the recent pullback. This reinforced its importance as a strong support. Higher lows and growing green candles confirm bullish momentum. Furthermore, the trading volume has risen, indicating growing confidence in the market.
SHIcrowd highlighted a tight descending triangle that has coiled for days. The analyst said, “One nice break and it is an ignition sequence.”
This means the Shiba Inu breakout could lead to rapid acceleration in the price. Many traders view this consolidation as preparation for another potentially significant upward move.
Analyst Sees Return to Strength in Meme Coin Rally
Prominent trader SHIB KNIGHT noted that Shiba Inu is “pumping” again as positive sentiment spreads across the crypto market. He added that those buyers who trusted the $0.00001200 support were being rewarded by the quick rebound.
This recovery showed SHIB’s ability to create significant trading activity when market conditions turn favorable. Historically, Shiba Inu price reacts strongly to Bitcoin and Ethereum rallies, often amplifying their market trends.
Exchange Flows and Supply Data Highlight Market Dynamics
On-chain data showed a sharp rise in Shiba Inu’s market activity this week. CryptoQuant reported exchange inflows surged nearly 200% on Sept. 24, reaching about 2.94 billion SHIB.
Such spikes are often indicative of potential selling pressure as an increasing number of tokens are transferred to centralized exchanges. However, heavy inflows may also indicate an upcoming period of strong price volatility, and not necessarily falling prices.
Traders consider these inflows against the technical strength of SHIB to assess the short-term direction. Supply data from Shibburn added further context.
About 410.75 billion SHIB have been permanently burned from the original supply. Total supply stands at 589.25 billion SHIB, with 584.71 billion circulating and 4.52 billion staked as xSHIB.
The 24-hour burn rate slowed by 13.67%, with roughly 232,829 SHIB destroyed during that time. Despite the reduced burn rate, consistent supply reduction is consistent with long-term price stability and potential scarcity impacts.
Exchange Inflows Signal Risk, But Shiba Inu Price Holds Key Support
Exchange inflows are high, so there is hesitation amongst traders about potential near-term selling pressure. Rising deposits on centralized platforms often mean that their holders may prepare to sell or rebalance platforms.
Strong buying interest, however, is helping to absorb this selling pressure and keep the prices steady. Shiba Inu may remains above the $0.00001200 support zone. If this happens, a recovery toward $0.00001350 remains possible despite heavier inflows.
CryptoQuant cautioned that this could give back control to the sellers if bulls cannot overcome resistance levels soon. The next few sessions will show if buyers can continue showing price strength or if inflows override momentum to annual lows.
Moses K is a crypto journalist covering markets, regulation, and blockchain trends. He has written for The Coin Republic, Coinchapter, Cryptopolitan, Cryptotale, Coinspeaker, and MPost. Known for his concise, data-driven reporting, Moses focuses on price analysis, on-chain metrics, and policy developments shaping the global digital asset landscape.
