Community-Driven Token Burns Propel Shiba Inu's Upward Momentum as the $0.0000105 Barrier Approaches

Shiba Inu (SHIB) has managed to remain above the important $0.00001002 support mark, as buyers focus on significant Fibonacci extension targets while the token trades within a tight price band. As of October 29, 2025,

The weekly chart for SHIB shows a strong upward move that broke through the 0.618 Fibonacci level at $0.000031247 and the 1.0 extension at $0.000088410, reaching a high near the 1.272 extension at $0.000185406. Experts point out that SHIB’s ability to stay above the 9-period exponential moving average (EMA) at $0.00001020 signals continued short-term strength. With the Stochastic RSI at 83.83, the token appears overbought, which may indicate a pause before any further gains, the article observed.

Important resistance points include $0.0000105 and the $0.0000110–$0.0000115 range. If SHIB can hold above $0.0000105, it may attempt to challenge the $0.0000110–$0.0000115 zone, while losing the EMA could mean a return to the $0.0000095 support area, according to the article.

SHIB’s market cap climbed to $6.2 billion on October 22, then dipped to $5.7 billion before rebounding to $6.08 billion by October 26. This price fluctuation highlights the cautious optimism among market participants. The decentralized nature of SHIB’s token burn campaigns has also played a role in supporting its price. Unlike centralized burning, SHIB’s method involves buying tokens on the open market and sending them to a burn address, with projects like Shibarium and exchange fee burns further reinforcing its decentralized principles, the article stated.

Even with positive signals, traders are encouraged to keep an eye on trading volume and order book strength. SHIB’s 24-hour trading volume stands at $97.8 million, indicating moderate liquidity, though it trails behind top altcoins. Analysts warn that while the Stochastic RSI’s high reading points to a possible pullback, continued buying could push SHIB toward $0.0000115. On the other hand, a drop below $0.00001002 could revive bearish momentum and test intermediate support levels, the article noted.

Wider market consolidation adds another layer of uncertainty, as SHIB’s price action remains closely linked to broader economic conditions and institutional interest in crypto. As SHIB faces this pivotal moment, its ability to stay above key psychological supports will be crucial in shaping its next direction.