$SHIB Market Analysis and Operational Suggestions
The community is discussing burning 99% of the total supply to reduce the circulating supply. The benefits of this strategy include reducing the circulating supply, increasing scarcity, and improving project perception. However, there are also potential risks, such as increased market volatility, loss of liquidity, and community backlash.
Currently, SHIB has broken through the resistance level of 0.000031, with the current trading price around 0.000032. While the increase has generated positive market sentiment, it is important for new investors to remain cautious.
In the past 15 days, SHIB's market cap has grown from 14 billion dollars to 17 billion dollars, indicating increased investor interest. However, a short-term correction is possible, which could lead to a price drop to about 0.000023, before resuming an upward trend.
Given the potential for a correction in the near future, it is advisable to avoid buying SHIB at the current price levels. One should wait for a price pullback before considering entry opportunities.
Bullish
Entry around 0.03200
Targets 0.03350, 0.03700.
Stop loss at 0.03050
Bearish
Entry below 0.03050
Targets 0.02800 and 0.02600
Stop loss at 0.03200
A breakout above 0.03350 will signal sustained bullish momentum, while failure to hold above 0.03050 may trigger a bearish correction.