I've been watching Shiba Inu these days and the situation is complicated. SHIB has dropped more than 1% in 24 hours and is now trading very low, close to $0.00. What’s bothering traders is that the token burn has stopped, you know? That mechanism that used to fuel hope for supply reduction simply disappeared in recent days.

Without the narrative of the burn working, the focus has completely shifted to the price chart itself. Shiba is stuck in a very tight range, and everyone is watching that critical support at $0.0000054. If it doesn’t hold there, more decline is coming. Trading volume is weak, sentiment is heavy, and it seems investors are waiting for something stronger to happen before jumping in.

It’s strange to see SHIB so far from the 2021 peak. The folks who got in during the meme coin boom must be feeling it a lot. Now, all that’s left is to watch whether it can recover to $0.0000068 or if it drops further.