- Shiba Inu trades at $0.00001189, down 2.6% over 7 days, with hourly price at $0.00001193, up 0.23%.
- Support holds at $0.00001158, while resistance stands at $0.00001192, keeping price action within a compressed range.
- SHIB’s market cap is $7.03B, with 8.6M tokens burned in 7 days, marking a 280.95% increase.
Shiba Inu (SHIB) remains at a critical demand region with price action still zigzagging within a narrow structure. SHIB at reporting was $0.00001189, having declined by 2.6% over the last week. Market data also shows SHIB at 0.091038 BTC, having gained a negligible 0.1%, while comparing to Ethereum at 0.082865 ETH, having gained by 1.6%. The performance of the asset is up to date, and traders are interested in its standing against short-term levels of support and resistance.
Price Activity Around Key Levels
Recent market activity reveals that SHIB has been trading close to its specified support level of $0.00001158 which has many times been able to stabilize the falls. It has developed a resistance of slightly above at $0.00001192 making the trading range tight.
Hourly data highlights a small rebound, with SHIB priced at $0.00001193, marking a 0.23% gain in the past hour. Over the 24-hour period, the asset advanced by 2.30%, showing temporary recovery. However, despite these short-term changes, the broader structure reflects a restrained market awaiting clearer direction.
Market Capitalization and Supply Dynamics
SHIB’s market capitalization currently stands at $7,034,023,680, posting a 2.27% increase in the past 24 hours. This uptick aligns with the slight rebound visible in the hourly chart. Total supply remains substantial at 589,247,696,753,810 tokens, underscoring the scale of the circulating asset.
Additionally, recent token burn activity provides further insight into market flows. Over the past 24 hours, zero tokens were burned, while the seven-day period recorded 8,619,906 tokens removed, marking a 280.95% increase compared to earlier levels. These figures continue to play a role in shaping supply dynamics and overall liquidity conditions.
Demand Zone Shapes Short-Term Outlook
The chart structure places SHIB within a crucial demand zone where both breakout and breakdown possibilities remain open. As observed by market observers, the support zone pointed out has acted as an important base and has been used to avert further retracements.
It is important to note that the hourly increase to $0.00001193 is in line with this support which enhances its short time significance. On the upside, the resistance zone continues to define the first boundary before any further testing of higher levels. Conversely, holding below immediate support could expose the asset to extended declines.
