Shiba Inu (SHIB) has shown resilience in recent trading sessions, maintaining upward momentum despite sharp intraday fluctuations. The token is currently priced at $0.00001284, reflecting a modest 0.57% gain over the past 24 hours. While the market remains cautious, SHIB’s technical patterns, volume activity, and supply dynamics point to a potentially bullish setup. The meme coin appears to be consolidating above key support levels, hinting at a breakout attempt if bullish sentiment sustains. Key Support and Resistance Zones Define SHIB’s Intraday Path SHIB has established a strong support base between $0.00001265 and $0.00001270. This range has repeatedly absorbed selling pressure, with quick recoveries signaling buyer interest. A brief dip to $0.00001260 formed a lower wick this deeper level may act as emergency support if prices retrace again. Source: CoinMarketCap On the flip side, resistance remains firm near $0.00001295 to $0.00001300. The price has tested this range twice and pulled back both times. A minor peak at $0.00001305 showed speculative interest, although it failed to sustain momentum. Breaking this resistance could trigger short-term rallies if accompanied by strong volume. Trading Volume Rises; Technical Indicators Offer Mixed Outlook Trading volume over the past day has risen 6.32%, reaching $146.88 million. This spike signals growing market interest and supports the bullish thesis. A balanced ratio between market capitalization and fully diluted value suggests healthy demand and limited speculative excess. SHIB/USD daily price chart, Source: TradingView However, technical indicators show mixed signals. The MACD shows a minor bearish crossover, with weak momentum. Meanwhile, the RSI at 38.54 suggests the asset is nearing oversold levels. If the RSI drops below 30 or rises past 50, traders might see a clearer signal to act. SHIB Tokenomics: Burn Rate Slows, But Long-Term Supply Shrinks Shiba Inu’s massive supply continues to shrink through its burn mechanism. To date, over 410 trillion SHIB have been permanently removed. The remaining total supply is now about 589 trillion, with nearly 585 trillion in circulation. Additionally, around 4.75 trillion SHIB are staked, pointing to long-term holder commitment. Source: Shibburn Interestingly, the burn rate dropped by 89.46% in the past day, with only 1.57 million tokens destroyed. While this reflects slowing deflationary pressure, the broader supply remains tight due to ongoing burns and staking. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.