SHIB climbed as high as roughly $0.0000059-$0.0000060 earlier this month before pulling back. CoinCodex currently shows the token near $0.0000057, keeping the immediate setup largely unchanged: buyers have recovered from September lows, but they still have not secured a convincing breakout.
The key level remains around $0.000006-$0.0000061.
$0.000006 Still Blocks the SHIB Rally
Shiba Inu has tested the $0.000006 area several times over the past two weeks without establishing it as support.
A recent SHIB breakout setup identified $0.000006-$0.0000061 as the main resistance zone. A clean move above it could reopen the path toward $0.0000067, followed by roughly $0.0000072.
On the downside, the $0.0000055-$0.0000056 area is becoming increasingly important. Losing that zone would put SHIB closer to the $0.0000051-$0.0000052 support that buyers defended during September’s selloff.
Burn Rate Spikes, but Price Barely Reacts
One potential bullish catalyst has returned dramatically.
Shiba Inu’s burn rate jumped more than 17,000% in 24 hours on Oct. 3, according to Shibburn data, as substantially more SHIB was permanently removed from circulation. Yet SHIB still traded around $0.00000572 and remained below resistance.
That contrast matters because burns have repeatedly failed to produce an immediate price breakout.
Only days earlier, the burn rate had collapsed more than 91%, while SHIB continued holding near its short-term support. The recent burn-rate volatility shows why daily burns alone are unlikely to determine the next move.
