Shiba Inu Price Hinges on Burn Rate Surge Amid Key Resistance

The Shiba Inu price is facing another crucial test as improving on-chain activity starts to challenge months of bearish sentiment. Despite this, the meme coin continues to trade below a critical technical barrier that has repeatedly capped every recovery attempt this year.

A surge in the SHIB burn rate could potentially be a catalyst for a price rebound, but it remains to be seen if it will be enough to overcome the current resistance.