- Shiba Inu (SHIB) bounces from the $0.00001000 support, gaining over 4% in the last 24 hours.
- Trading volume spikes to 1.6 trillion SHIB, signaling renewed buying interest.
- Circulating supply continues to shrink despite slower burn rate, supporting long-term bullish pressure.
- Price eyes resistance at $0.00001150 and $0.00001300 as signs of a trend reversal emerge.
SHIB is showing early signs of a potential rebound, with bullish sentiment slowly returning to the market. The token recently bounced from a key support zone near $0.00001000 and is currently trading around $0.00001106, gaining over 4% in the last 24 hours.
This recovery comes after several days of downward pressure, with today’s green candle signaling a possible shift in momentum. Trading volume has surged to 1.6 trillion SHIB, indicating renewed interest from buyers.
The strong defense of the $0.00001000 level highlights growing confidence among Shiba Inu (SHIB) holders, possibly setting the stage for a short-term breakout.
Circulating Supply Drops, Shiba Inu Bulls Return
Adding to the optimism, the latest data from Shibburn reveals that while burn activity has slowed significantly, with just 282,515 tokens burned in the past 24 hours and 61.3 million over the past week, the supply continues to steadily shrink.
The total supply stands at 589.2 trillion SHIB, and despite the burn rate cooling, the ongoing reduction of circulating tokens adds long-term bullish pressure. SHIB’s market cap has also ticked up to $6.36 billion, and price metrics show a steady climb, with hourly and daily gains of 0.12% and 0.14%, respectively.
As the market steadies, SHIB is eyeing key resistance levels at $0.00001150 and $0.00001300. A breakout above these zones could confirm a trend reversal and push the token into a new bullish phase.
While it’s still early to call a full recovery, the technical bounce, growing volume, and ongoing supply reduction paint a promising picture for SHIB in the near term.
Read More: Shiba Inu (SHIB) Drops to $0.0000103 Amid Crypto Sell-Off and Geopolitical Risks
