Just noticed SHIB is hovering around that 410 trillion burn milestone everyone's been talking about. The burn tracker shows we're at 409 trillion now, and yeah, it's a big number on paper, but honestly? The market doesn't seem to care much anymore. Back in 2021 when Vitalik torched a massive chunk, it actually meant something. Now the SHIB burn activity has basically flatlined over the last couple years, so that psychological milestone feels more like a historical footnote than a catalyst.



Looking at the charts, SHIB is stuck in consolidation mode around $0.000015. It tried pushing above $0.000016 but couldn't hold it. The 200 EMA is acting as a hard ceiling right now, and support is sitting at that $0.0000142-$0.0000145 range. If it breaks below that, we could see more downside. Volume picked up a bit after last week's drop, but it's still underwhelming compared to what we'd normally expect.

The RSI is basically screaming neutral - not oversold, not overbought, just stuck in the middle. No real momentum either direction. Here's the thing about the SHIB burn narrative: the market's already priced in all those previous burns. Unless we see a real resurgence in burning activity and actual investor interest picking up, hitting 410 trillion is just going to be another number on the tracker. Price action needs a real catalyst, not just a ceremonial milestone. For now, SHIB is just range-bound and waiting for something to break the stalemate.
SHIB3,95%
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pin