Shiba Inu aims for 0.000026 USD! 4.7 million SHIB burned + Shibarium security upgrade boosts the pump

Shiba Inu (SHIB) reported at 0.00001262 USD during the Asian session on August 18, with a rare head and shoulders pattern appearing on the technical side, indicating that once it breaks through the neck resistance, the price is expected to welcome a trend reversal. Coupled with the favourable information from the burning of 4.7 million SHIB tokens and the security upgrade of Shibarium, the market's bullish sentiment towards its short-term and mid-term trends continues to heat up.

Technical Analysis: Inverse Head and Shoulders Pattern Releases Bullish Signal

The current neckline position of SHIB is at 0.00001306 USD. If it successfully breaks through and stabilizes, theoretically, the pump could reach 100%, with a target price aiming at 0.00002600 USD.

Key resistance levels: 0.00001397 USD, 0.00001600 USD

Recent support level: 0.00001252 USD (breaking below will weaken bullish outlook)

The RSI indicator is currently at 48, which falls within the neutral range, but if it further enters the bullish zone, it will provide additional momentum for the bulls. If the price breaks through 0.00001724 USD, the pump may accelerate rapidly.

token burning: 4.7 million SHIB burned within 24 hours

Recently, the SHIB ecosystem experienced a large-scale token burning event, with a total of 4.7 million SHIB burned within 24 hours, and the burning rate skyrocketing to 1,985%.

The direct contraction on the supply side provides structural support for long-term price formation, bringing stronger holding confidence to investors.

Shibarium Security Upgrade: Collaboration with DegenSafe

In terms of security, Shibarium announced a partnership with DegenSafe to strengthen user asset protection mechanisms to address risks such as fraud and wallet theft.

This initiative not only enhances the security of the ecosystem but also conveys the project party's proactive attitude towards infrastructure and user protection to the market.

Short-term and Mid-term Price Outlook

Based on a comprehensive analysis of technical and fundamental factors, the short to medium-term outlook for SHIB remains bullish:

Short-term goal: Break through the resistance at 0.00001397 USD and 0.00001600 USD

Mid-term target: If the neckline breaks, the price is expected to hit $0.00002600.

Risk Point: A drop below the support at 0.00001252 USD may trigger a pullback.

Conclusion

Shiba Inu is at a critical point of technical pattern breakthrough, coupled with large-scale token burning and Shibarium security upgrades, providing solid fundamental support for the bulls. If market sentiment continues to improve, SHIB is expected to experience a strong rebound in the upcoming trading cycle, potentially challenging the key price level of $0.000026.