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SHIB Trades Near $0.00001334 as Symmetrical Triangle Signals Breakout Pressure, but the 200 EMA S...
SHIB trades near $0.00001334 as a symmetrical triangle pattern builds breakout pressure.
Burn rate spikes 1,548% with 102M SHIB removed in 7 days, yet supply impact remains small.
The 200-day EMA stands as major resistance; a breakout could confirm medium-term bullish momentum.
In this bull market, SHIB will break through that convergence. The token is trading within a symmetrical triangle structure, while trading activity and network developments provide a stronger foundation for potential price continuation. At the time of writing, SHIB is priced at $0.00001320, showing steady positioning near resistance.
SHIB Price Action and Symmetrical Triangle
The SHIB/USDT weekly chart displays consolidation inside converging trendlines with support and resistance forming a symmetrical triangle pattern. According to CW8900, SHIB trades near $0.00001334, close to the triangle resistance, which indicates growing pressure for a breakout.
Recent trading sessions reflect stable action, with SHIB maintaining higher lows across multiple weeks. Technical patterns indicate that buyers continue supporting the structure, while volume trends confirm active participation. The 50-day EMA is approaching a crossover with the 100-day EMA, which could confirm further momentum if sustained.
Source: ShibSpain(X)
CoinMarketCap data records SHIB at $0.00001284 earlier, down 1.02% in 24 hours with trading volume declining 35.27%. The recent recovery above $0.00001300 marks progress as consolidation nears its upper boundary. According to Shib Spain, “SHIB is getting ready for a breakout.”
Network Developments and Burn Activity
On-chain events show increased activity, including 3.7 million SHIB tokens burned in a single day, a 1,548% surge. Over seven days, approximately 102 million SHIB were removed from circulation. While the burns represent only a small portion of the 584 trillion supply, they reinforce long-term scarcity.
At the same time, Shibarium has announced a new security partnership with DegenSafe. This move strengthens protection for users and builds confidence in the network. According to reports, security upgrades and sustained utility growth are key factors for building durable momentum.
Technical resistance lies near the 200-day EMA, which remains a key barrier to surpass for further progress. Analysts suggest that clearing this level could support medium-term upside. With burn activity, network upgrades, and bullish chart patterns aligning, SHIB appears prepared for a breakout in this bull market.
The post SHIB Trades Near $0.00001334 as Symmetrical Triangle Signals Breakout Pressure, but the 200 EMA Stands Firm appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.