Shiba Inu (SHIB) is trading near $0.00000476, down 17% over the past month and nearly 59% over the past year. The token now sits below all major daily exponential moving averages — the 10, 20, 50, 100, and 200-day EMAs — a setup technicians read as a clear bearish trend.
Burn rate and Shibarium don't move the needle
SHIB’s daily burn rate has fallen to roughly 1 million tokens — worth about $5. Weekly burns total around 15 million SHIB, or $75. At that pace, the supply reduction is negligible and has little effect on price. Meanwhile, the Shibarium Layer-2 network continues to process transactions, but that activity hasn't translated into price stability or upward momentum for SHIB.
Exchange outflows hint at accumulation
Despite the price weakness, some holders are moving tokens off exchanges. Total SHIB exchange reserves have dipped below 80 trillion tokens. In the last 24 hours, net outflows amounted to about 266 billion SHIB. That kind of withdrawal often suggests accumulation — investors pulling tokens into private wallets rather than preparing to sell. But the price hasn't reacted strongly, meaning the selling pressure elsewhere is still outweighing the buying from these outflows.
Key levels to watch
Support sits around $0.0000046, with a deeper floor at $0.00000430. On the upside, resistance is near $0.0000048 and then $0.00000491. Traders will be watching whether the RSI dips into oversold territory and whether that brings in enough buying to test those resistance levels.
The immediate question is whether the accumulation signaled by exchange outflows can eventually overcome the persistent selling pressure. For now, SHIB remains stuck in a downtrend, and the numbers don't yet point to a reversal.
