Shiba Inu slides toward $0.00000466 support, over 10% drop risk

Shiba Inu fell to $0.00000466 on Friday, testing the 50‑day exponential moving average and exposing the meme coin to a possible drawdown of more than 10% if the level holds. The move comes as the token’s daily burn shrank sharply, reducing supply‑side support amid a broader risk‑off market mood.

Declining burn rate removes supply pressure

On Thursday, only 6.62 million SHIB tokens were burned, a steep drop from the 97.16 million burned on Saturday, indicating a weakening of the token’s supply‑reduction mechanism that had previously helped buoy prices [2]. The reduced burn rate coincides with a broader market risk‑off sentiment, amplified by the delayed vote on the CLARITY Act, which typically dampens appetite for high‑volatility meme assets [2].

Technical picture points to further downside

The price is now hovering at the 50‑day EMA ($0.00000466), which also aligns with the 78.6% Fibonacci retracement drawn from the recent high of $0.00000670 to the low of $0.00000405 [2]. A decisive close below this cluster could push SHIB toward the Fibonacci anchor at $0.00000405, representing a downside risk of over 10% from the current level. The daily RSI sits at 49, slipping below the midline, while funding rates have turned slightly positive (0.0059% vs. –0.0013% the prior day), reflecting mixed retail sentiment [2].

Market pressure reflected in futures activity

CoinGlass data shows SHIB futures open interest steady near $43.53 million, but long liquidations of $172,390 outpaced short liquidations of $17,670, underscoring bearish weakness in leveraged positions [2].

What to watch

• $0.00000405 – Fibonacci anchor that could trigger a >10% drop if breached.
• Burn rate – Any rebound in daily token burns (e.g., returning to >50 M) may provide supply‑side support.
• Regulatory timeline – Outcome of the CLARITY Act vote, as its delay has already curbed risk appetite.

The price’s proximity to the 50‑day EMA and the sharp decline in token burns suggest that SHIB’s next move will likely be dictated by whether supply‑side pressure can be re‑established or if broader market risk aversion continues to dominate.