Shiba Inu Price Faces Uncertainty as It Trades in Tight Range, But Burning Continues to Reduce Supply
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Shiba Inu (SHIB) price failed to break out from a descending resistance trendline on November 27 and has fallen since.
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SHIB is still trading inside a symmetrical triangle pattern, signaling a potential corrective move.
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The SHIB price could break out from the current descending channel, which could lead to a 35% price increase.
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However, failure to break out could also cause the price to drop 10% to the next support level.
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36 million SHIB tokens were burned in the past 24 hours, reducing supply and potentially impacting price.