SHIB burn volume surges by 910%, but the price remains under pressure—can this rebound hold?

2026-01-15 10:40:10

Abstract generation in progress

【Crypto World】SHIB bulls haven’t been idle these days. Within 24 hours, they directly dumped over 4.37 million SHIB into an invalid wallet, with the burn volume soaring 910.98%. The goal is clear—protect the market by reducing circulating supply. However, this move doesn’t seem to have an immediate effect. SHIB’s current trading price has actually dropped 2.11%, quoted at $0.000008597, and the overall selling pressure on meme coins remains strong.

But there are some bright spots. Trading volume has increased by 8.08%, surpassing $179.96 million, indicating that market enthusiasm is still present. On the technical side, the RSI index is at 57, in a neutral to slightly weak state, not yet in oversold territory, suggesting there is still room for a rebound.

But the key question is: can the price truly rebound? It mainly depends on the attitude of futures traders. Recently, open interest has been shrinking, which may imply that market confidence is waning. If the buying momentum isn’t strong enough, burning more tokens will be pointless. Whether SHIB can stop falling in the short term depends on whether this influx of funds is real or just a false alarm.

SHIB-1.92%

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