Shiba Inu is trading near $0.00000590 after pulling back from an intraday high around $0.00000602, leaving the token directly below a critical resistance cluster between $0.0000060 and $0.0000061. Technical analysts view that zone as the main breakout barrier for the current recovery. A close above it on stronger buying volume would open the next bullish targets near $0.0000067 and then approximately $0.0000072, while near-term support sits around $0.00000565–$0.00000575.
The rebound has been building since mid-September. On Sept. 16, SHIB was testing the $0.0000051–$0.0000052 region as support after failed breakout attempts. By Sept. 19, the token had bounced roughly 6% toward $0.0000054, and that recovery has extended further with SHIB now retesting $0.000006. The key shift is that $0.000006 is no longer a distant recovery target but an immediate breakout test. If SHIB falls back below roughly $0.0000057, the latest move risks looking like another temporary bounce.
Burn activity has also picked up. Shibburn data cited on Sept. 20 showed 72.23 million SHIB removed in 24 hours, pushing the daily burn rate up more than 31,000%, with about 111.4 million SHIB burned over the previous seven days. However, burn-rate percentages can be misleading from a low base; relative to SHIB’s enormous circulating supply, even large percentage spikes may have limited immediate price impact.
