Shiba Inu (SHIB) struggles near key support as burn rate and Shibarium activity weaken

• Shiba Inu (SHIB) trades near $0.00000476 with weak short-term momentum.
• Shiba Inu burn activity has dropped to about $5 worth of SHIB daily.
• SHIB’s price remains below all major EMAs, maintaining a bearish trend.

Shiba Inu is trading at $0.00000476, holding a tight range between $0.000004638 and $0.000004789 over the past 24 hours.

The memecoin has remained under pressure in recent sessions, with a -0.4% daily change, extending a broader weakness that has seen it fall 17% over the past 30 days and nearly 59% over the past year.

Market activity, however, remains elevated, with 24-hour trading volume at roughly $54.7 million.

SHIB price structure tightens as support zone comes under pressure

Shiba Inu is testing a support region around $0.0000046, while a deeper support level sits at $0.00000430.

On the upside, resistance is forming near $0.0000048, with a further barrier at $0.00000491.

Notably, SHIB is trading below all major daily exponential moving averages (EMAs), including the 10-day, 20-day, 50-day, 100-day, and 200-day EMAs.

This alignment places the broader trend firmly in bearish territory, with no short-term average currently suppo...