Shiba Inu (SHIB) has been in a correction phase for 10 days, with its market cap falling back below $3 billion. After surging 53% from a low of $0.00000410 to a three-month high of $0.00000627, the token has declined by 19%. The support level at $0.000005 is currently being tested by bears for the fourth time, while momentum indicators remain negative with red MACD bars and 2.75 billion SHIB sold according to CVD. The hourly burn rate surged 100% with 61.45 million tokens destroyed in a single transaction, but daily trading volumes remain weak at $41.25 million compared to $715 million for DOGE, limiting rebound prospects.
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