The Shiba Inu price has been trading between $0.000011 and $0.000012 in the past few days. The memecoin is currently facing a notable resistance of around $0.00000125, which has been in place since March 12. Amid this price volatility, the Shiba Inu price has plummeted by 6.3% and 20.6% in the past week and past 30 days, respectively.
The Shiba Inu price on the yearly chart is also bearish with a decline of 62.9%. While this downturn could continue, analysts expect a Shiba Inu price rebound in the coming days. One such analyst is CW. They noted the Shiba Inu price is in a good buying region and has three major resistances until it soars to its previous peak of $0.00034.
CW forecasts the Shiba Inu price could pump to $0.000017 and then to $0.000022 if the uptrend continues. In other news, Shiba Inu’s burn rate has skyrocketed by 27,660% in the past 24 hours. Over 503 million SHIB has been burnt, a move that could push the Shiba Inu price up the chat as user activity rises.
