SHIB Nears 410 Trillion Burned Coins But Price Stalls—What’s Next?

Shiba Inu is closing on a symbolic burn milestone, with nearly 410 trillion SHIB tokens removed from circulation. Despite the scale of the burn, the price has failed to reflect any bullish momentum.

SHIB’s burn tracker data confirms that 409 trillion tokens have already been destroyed since the burn mechanism began. Most of these ETH burnt came from Vitalik Buterin, who sent a significant amount in 2021, and from the early enthusiasm of the Ethereum community.

However, the discovery of new burns has become much slower in recent years, and almost no progress has been made over the past year and a half. Because of these circumstances, people in financial markets consider the 410 trillion number more symbolic than real.

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Price Struggles Despite Deflationary Milestones

SHIB’s price has been unable to maintain levels above $0.000016 and is now hovering near $0.000015. Resistance at the 200-day Exponential Moving Average continues to limit any significant upward breakout.

Recent trading volume has picked up slightly after a sharp drop last week but remains below yearly expectations. As there is no new catalyst in sight, investors are still being careful.

According to the Relative Strength Index, neither buyers nor sellers are showing strong signs of dominance. The trend of SHIB in the short run will depend on support in the range of $0.0000142 to $0.0000145.

If this level is broken, it could initiate further price falls. If there is to be a meaningful rebound, it will need more burning or stronger demand from investors.

Shiba Inu is approaching the milestone of 410 trillion burned, and the market’s focus turns to upcoming achievements instead of looking back at what has happened. Until there is a new enthusiasm, prices may not rise as quickly as the token’s deflation gathers pace.

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