SHIB holders are increasing their burn efforts. In the past 24 hours, the amount burned has exceeded 4.37 million tokens, a 910.98% increase compared to the previous period. This is a move by the bulls to support the price by reducing circulating supply.

However, market response has been lukewarm. SHIB is currently trading at $0.000008597, down 2.11% over the past 24 hours, with the entire meme coin sector experiencing a pullback. Interestingly, trading activity has actually increased—the daily trading volume rose to $179.96 million, an 8.08% increase compared to the previous period. From a technical perspective, the RSI indicator is at 57, in the neutral zone, not yet in the oversold danger zone.

The futures market has become a key focus. Open interest once surged to $109.75 million, but recent volatility has weakened, indicating trader confidence is waning. Analysts believe that whether SHIB can break through the critical $0.00001 level largely depends on whether futures traders can re-engage.