Shiba Inu price has shown a fragile rebound today, trading around $0.00000902 as buyers stepped in after the memecoin tested a historical support.
SHIB’s bounce looks precarious amid heavy selling, technical resistance, and tokenomic noise.
Shiba Inu price tests critical support
Shiba Inu has defended the $0.0000089 support area after several sessions of selling pressure.
Notably, $0.0000089 has acted as a historical rebound zone, although the current market reaction feels muted rather than confident.
While the volume has ticked up, hinting at short-term accumulation, the SHIB price remains below all key moving averages (MAs).
In addition, today’s rebound follows a decline that erased roughly 10.9% over the past week and nearly 29% for the month.
And while correlation with BTC is high, and broader market turbulence keeps buyers defensive, Bitcoin’s weakness and a Crypto Fear & Greed Index reading deep in “extreme fear” have capped the upside for altcoins, including memecoins like Shiba Inu.
Burn surge draws headlines but adds little
While the Shiba Inu burn rate spike has caught attention with a reported 674% increase and roughly 12 million tokens burned in 24 hours, tokenomics show this is merely cosmetic.
The total burned supply still sits around the 410 trillion mark, a figure dominated by Vitalik Buterin’s 2021 one-time burn.
In practical terms, daily burns are almost negligible against a ~589 trillion total supply.
While Shiba Inu holders may cheer burn statistics, supply math does not translate into scarcity that traders price in today.
Burns have become a narrative more than a market mover, and traders are advised to look at liquidity, on-chain flows, and order book dynamics rather than headline burn percentages.
Shiba Inu’s selling pressure and liquidity concerns
Spot outflows increased sharply, with Coinglass showing $3.06 million moved onto exchanges on November 4, followed by another $558,600 the next day.
Exchange inflows like these usually signal distribution, and that pattern prevailed through October and November.
When tokens flow to exchanges instead of cold wallets, liquidity available for sell orders grows — and prices typically face more downward pressure.
On the technical side, SHIB currently sits below the 20, 50, 100, and 200-day EMAs, which form a stacked resistance “ceiling.”
The Supertrend indicator is also in the red, confirming that medium-term momentum favours sellers.
Shiba Inu price outlook: what to watch next
Activity on Shibarium and partnership hints, such as TokenPlayAI, offer long-term storyline value, but they have not created immediate demand.
However, network transactions are largely flat, and ShibaSwap recently suffered a notable security incident that cost about $2.8 million after multiple signer keys were compromised, increasing caution among participants.
Going by the recent Shiba Inu price movements, the market is likely to decide around two clear thresholds.
A close back above $0.000009912 — the 20-day EMA — on meaningful volume would provide the first sign of trend relief.
Conversely, a daily close below $0.0000080 would indicate a confirmed continuation toward lower liquidity zones near $0.0000072.
Until one of those outcomes occurs, SHIB’s short rallies risk remaining temporary.
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