Key Notes
- SHIB burn rate falls about 90% in a day.
- SHIB price surges more than 4%, showing steady demand.
- Falling wedge setup on the daily chart hints at a possible trend change.
Shiba Inu
SHIB
$0.000009
24h volatility:
3.4%
Market cap:
$5.20 B
Vol. 24h:
$133.90 M
saw a 90% drop in its burn rate over the past day, a move that would normally concern traders.
Despite that, the meme coin is trading near $0.000008897, up by over 4% amid a broader crypto market recovery.
SHIB is forming a falling wedge on the daily chart, a possible early sign of a trend reversal. The price has moved above the wedge’s upper line, hinting that sellers may be losing control.
SHIB’s price chart with bullish falling wedge pattern. | Source: Trading View
Bollinger Bands are narrowing, suggesting the potential for a larger move ahead. The next resistance zone sits around $0.00000910 and then near $0.00001012.
If price holds above the wedge and pushes through these levels, SHIB would confirm the return of bulls.
Meanwhile, the MACD lines are close to meeting above the signal line. This is also an early sign of strength.
However, a drop back inside the wedge would weaken the bullish scenario. In such a case, traders should watch for the support near $0.00000755 and $0.00000799.
Shibarium’s Privacy Upgrade Ahead
The positive momentum comes as the SHIB team prepares a major privacy upgrade for Shibarium.
The team’s market lead Lucie recently stated that the platform aims to have full privacy features on-chain by the second quarter of 2026.
The cryptography firm Zama will supply its encryption method. It will allow transactions and smart-contract activity to stay hidden while still working within the network.
This development follows Shibarium’s recent security improvements after the network experienced a breach. Lucie also shared an image confirming that Zama’s public testnet is live on Ethereum’s
ETH
$3 076
24h volatility:
2.7%
Market cap:
$371.28 B
Vol. 24h:
$16.83 B
Sepolia network.
AI Partnership Could Boost SHIB Use
Shiba Inu has also signed a deal with NVIDIA-backed TokenPlay AI. The latter will build a Shiba-themed app and feature interactive gaming and reward systems for SHIB holders.
It will also give creators tools to easily create apps and small games without coding.
Analysts believe that the leading meme coin could see strong demand, with higher use across gaming and community apps.
These updates come during a period of steady work from the Shiba Inu team. This includes updates to Shibarium’s developer hub in early July that helped increase daily activity.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
Parth Dubey on LinkedIn
Source: https://www.coinspeaker.com/shiba-inu-burn-rate-sinks-90-but-bullish-reversal-pattern-surfaces/
