Shiba Inu’s (CRYPTO: SHIB) increasing token burn rate and steady core metrics have caught the attention of traders, who urge patience regarding the meme coin’s near-term future.
| Cryptocurrency | Ticker | Price | Market Cap | 7-Day Trend |
| Shiba Inu | (CRYPTO: SHIB) | $0.00001168 | $6.9 billion | -0.6% |
| Dogecoin | (CRYPTO: DOGE) | $0.1633 | $24.5 billion | -5% |
| Pepe | (CRYPTO: PEPE) | $0.059888 | $4.2 billion | -5.4% |
Trader Notes: TradingView analyst Paper Trader warns that if SHIB closes below $0.00001038 on the weekly chart, it will confirm a bearish breach of the value zone, potentially sending the token to $0.00000830.
In contrast, Marco Marcello is more optimistic.
He sees signs of a double-bottom W pattern forming, a bullish reversal indicator, and views current levels …