SHIB Shows First Bullish Signal Since February as Burn Momentum Fades

• SHIB shows the first bullish MACD signal since February near key resistance levels.
• Price presses Bollinger Band resistance while burn activity drops and stays inconsistent.
• Weak volume and declining open interest signal cautious market participation overall.

Shiba Inu is flashing its first real technical strength since February. Traders are watching closely as price action tightens near key resistance levels. Momentum is slowly shifting after months of downward pressure inside a broad descending channel. Indicators now hint at a possible short-term recovery attempt. However, weakening burn activity raises questions about sustainability. Market participants remain split between cautious optimism and continued skepticism.

Technical Breakout Signals Begin to Form

SHIB trades near $0.0000593, showing slight daily gains of 0.34%. Price now presses against the middle Bollinger Band at $0.0000598. This level acts as a short-term pivot for direction. A clean daily close above this zone could shift momentum upward quickly. The upper band sits near $0.0000625, forming the next visible target. Above that, a strong resistance cluster appears between $0.0000630 and $0.0000640.

The broader structure still reflects a descending channel from the April 2025 peak. Price recovery started after the February low near $0.0000470. Buyers have slowly pushed SHIB higher since then. The most notable change comes from the MACD indicator. A bullish crossover has appeared for the first time since February. The histogram also flipped positive at $0.0000002.

That earlier February signal led to a short rally toward $0.0000700. Traders now watch for a repeat move if momentum continues. However, downside risk remains active. Losing $0.0000572 would weaken the structure. That level aligns with the lower Bollinger Band. A breakdown could reopen the path toward $0.0000470.

Weak Burn Activity Clouds Long-term Sentiment

Burn data tells a less exciting story compared to price action. Daily burn rates show sharp inconsistency. A spike of 26 million SHIB on April 17 quickly faded afterward. The following sessions dropped near zero again. Overall burn activity fell more than 32 percent in 24 hours after that spike. The weekly pattern shows irregular bursts rather than steady reduction.

April 14 recorded 19 million SHIB burned. April 15 dropped to near zero. Activity briefly recovered before collapsing again. This inconsistent behavior limits the impact of supply reduction narratives. Without sustained burns above 10 million daily, long-term pressure remains weak. Market data also shows declining participation. Trading volume fell 13.62 percent to $126.95 million. Open interest dropped 6.30 percent to $56.57 million. These numbers suggest position reduction across the board.

Liquidations also show stress on long positions, with buyers absorbing most losses. Despite this, sentiment is not fully negative. Long positioning still dominates slightly across some exchanges. However, leverage has reset significantly from earlier peaks above $500 million. That reduction often sets the stage for cleaner moves. SHIB now sits at a technical crossroads.