Tyler McKnight

$SHIB Burn Rate Up, Chart Still Heavy
🔥🐕

The burn rate exploding by 2,000,000%+ sounds dramatic, but on-chain supply shocks only matter when they collide with real demand.

And right now, the chart shows a market still grinding through a clean downtrend.
👀

✅ $SHIB trades around 0.00000876, sitting just under the mid-BB and rejecting the short-term resistance at 0.00000934–0.00001044. Structure remains LL > LH, meaning sellers still dictate the momentum.

✅ Volume (43.6B SMA) is steady but not expanding - burns without volume rarely flip trend.

✅ RSI at 39.42 keeps SHIB in weak-momentum territory: not oversold enough for a reversal, not strong enough for continuation.

Here’s how I read it 👇

📉 Bearish continuation risk:
Losing 0.00000824 opens the liquidity pocket toward 0.00000661–0.00000600.

📈 Reversal trigger:
SHIB needs a reclaim of 0.00000934 and ideally a daily close above 0.00001044 to break the LH structure. Only then does the burn start translating into a real price effect.

🔥 Burns help, but price reacts when market structure shifts - not before.

📊 WhiteBIT Chart: SHIB/USDT (1D)

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