SHIB Holds Key Support, Volume Spikes 26% – Is a Bigger Bounce Coming?

• SHIB defends critical support at $0.0000105–$0.0000110, eyeing the 20-day EMA.
• The SHIB burn rate dropped 92% with a substantial 2.6 million tokens burned. 
• Marketing lead Lucie has teased massive developments in the upcoming days.

Shiba Inu (SHIB) is attempting a rebound, trading near $0.00001192 on Thursday, marking a 9% gain in the past 24 hours. After briefly touching a daily high of $0.00001213, SHIB now approaches a key resistance zone near the 20-day Exponential Moving Average (EMA) at $0.00001228. 

Clearing the 20-day EMA presents a major hurdle for SHIB bulls hoping to reverse the prevailing downtrend. As a positive for holders, SHIB managed to defend the $0.0000105–$0.0000110 support range over the past few days. This zone has acted as both a structural and psychological floor multiple times since March. 

The successful defense of this level, coupled with a 26% spike in trading volume, suggests that “bottom-buyers” might be stepping in, accumulating the token despite broader market uncertainty, as seen on the chart below.

Related: Shiba Inu Burn Rate Surges Over 1,500%, Yet Price Fails to Respond

Why Did the Burn Rate Crash?

Addin…

The post SHIB Holds Key Support, Volume Spikes 26% – Is a Bigger Bounce Coming? appeared first on Coin Edition.