Shiba Inu Trapped Below Crucial Resistance Zone

Shiba Inu (SHIB) has seen a significant recovery in September, climbing from sub-$0.000005 levels to around $0.00000576 on September 30.

However, despite this growth, the token remains below the crucial $0.000006 area, which is still considered a key barrier for SHIB's price action.

Coinpaper's recent analysis identified the $0.000006-$0.0000061 zone as a potential breakout point, with targets of around $0.0000067 and $0.0000072 possible if SHIB can reclaim resistance.

The burn rate of SHIB has collapsed by over 91%, but this narrative has had little impact on the token's price action, which is still largely driven by liquidity, broader meme-coin demand, and technical levels.