SHIB Token Burns Cease, Bearish Momentum Intensifies

2025-12-19 04:26

SHIB token burns have come to a complete halt, eliminating a significant bullish catalyst for the cryptocurrency. Despite over 410 trillion tokens being burned historically, no burn activity has been recorded in the past 24 hours. SHIB's price has fallen to $0.000007087, marking a 5.87% decline in the last day. Technical analysis indicates a bearish trend, with the Relative Strength Index (RSI) approaching oversold territory and the Moving Average Convergence Divergence (MACD) positioned below the neutral line. Key liquidation levels are identified at $0.00777 for longs and $0.0086 for shorts, according to CoinGlass. A breach of current support levels could lead to a further 20% price drop.

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