Shiba Inu Price Hits Crucial Level as Token-Burn Mechanism Continues

Shiba Inu's price has reached a crucial level, according to Coin Gabbar. As of September 21, 2026, its market capitalization is around $3.269 billion, with a price of $0.00000547. This represents a 3.5% increase over the past 24 hours.

The hourly chart shows that Shiba Inu has been consolidating between $0.00000532 and $0.00000584, indicating a narrow range. The token-burn mechanism has also been ongoing, with Shibburn reporting 9,035,570 SHIB tokens were burned in the past 24 hours.

Short positions have been squeezed hard, but longs are still being liquidated at a higher rate than shorts over the 24-hour period. Trading volume remains spread across multiple exchanges, suggesting broad-based retail interest rather than volume driven by a single platform.

A technical analysis of the 1-hour SHIBUSDT chart shows price trading just below a falling trendline that has capped rallies since September 17. If Shiba Inu closes above this trendline with rising volume, the first resistance to watch is $0.00000570, followed by $0.00000597 and potentially $0.00000622.