SHIB Price Drops Despite Burn Rate Spike, Risk of Further Losses to $0.0000075 Support
• SHIB price broke down from a short-term continuation pattern on December 17, validating a descending resistance trend line • Despite over 300% more SHIB tokens burned in last 24 hours, price fell sharply rather than surging • Weekly timeframe is neutral but daily shows bearish trend with breakdown from symmetrical triangle pattern • SHIB at risk of falling 20% to $0.0000075 support level based on technical indicators • If $0.0000095 minor support level holds, 35% price increase to $0.000013 resistance possible