Shiba Inu (SHIB) has slipped below its critical $0.000015 support level for the first time in 2025, sparking concerns among traders. Currently trading at $0.00001485, the popular meme coin has declined by 5% in the past 24 hours. This drop coincides with a sharp 66% decrease in SHIB’s burn rate, according to data from Shibburn.
Declining Burn Rate Adds to Bearish Pressure
Over the last 24 hours, only 15.1 million SHIB tokens have been burned, significantly lower than usual. A declining burn rate suggests a slowdown in supply reduction, which often results in price stagnation or increased downside pressure. Historically, SHIB’s $0.000015 price level has acted as a strong floor, but weak bullish momentum and broader market struggles have led to a breakdown.
The entire meme coin sector is currently under pressure following the LIBRA token controversy. CoinMarketCap data reveals that meme coins have collectively lost 37% of their market value, with the total sector capitalization now at $62.9 billion. SHIB itself has seen its market cap plummet by 55% since early December, now standing at $8.76 billion.
SHIB Price Analysis: Key Levels to Watch
Technical indicators suggest that SHIB is approaching oversold territory. The Relative Strength Index (RSI) is hovering around 37, indicating potential for a relief bounce. However, since RSI remains above 30, there is still room for further downside before a meaningful reversal.
Additionally, SHIB is currently testing the lower Bollinger Band, signaling increased selling pressure. If the price continues to close below this band, a further decline may be imminent. The next key support level sits at $0.0000135, and a breakdown below this level could push SHIB toward the $0.000012 region. Conversely, for a bullish turnaround, SHIB must reclaim $0.000015 as support, potentially driving a move toward $0.0000168.
Analyst Predicts 400% SHIB Rally
Despite the bearish trend, crypto analyst Javon Marks has identified a potentially bullish structure forming in SHIB’s price chart. In a recent post on X, Marks highlighted an Inverse Head & Shoulders pattern, a classic bullish reversal signal. Should SHIB confirm this formation, it could fuel a rally toward $0.000081—a staggering 400% surge from current levels.
$SHIB (Shiba Inu) prices maintaining the structure of a large Inverse Head & Shoulder and with the $0.000081 target still in play, an over 402% run to reach it could come out of this! https://t.co/WwgfDoTpcU pic.twitter.com/wuZ6c2yrlY
— JAVON⚡️MARKS (@JavonTM1) February 22, 2025
While SHIB’s short-term outlook remains uncertain, traders will closely watch key technical levels for signs of either a deeper correction or a potential recovery.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of CoinBrief.io. Before making any investment decisions, you should always conduct your own research. Coin Brief is not responsible for any financial losses.
Also Read: Can Shiba Inu (SHIB) Reach $1? Supply and Burn Challenges Explained
