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Shiba Inu trades at $0.0000058 on April 7, holding near the lower third of a descending channel that has been intact since September 2025 while the broader meme coin market quietly recovers. The meme coin market cap sits at $30.82B, up 8.94% over the past 30 days, giving $SHIB a rising sector backdrop even as its own chart remains under pressure.
$SHIB Daily Chart: Channel Holds As SAR And Supertrend Converge
The descending channel from the September 2025 peak near $0.000015 continues to define $SHIB’s price structure. The upper boundary is now near $0.0000075 and the lower boundary approaches $0.0000040 through April at the current slope. Price has been hugging the lower third of the channel since February without breaking below the channel floor.
The SAR at $0.0000622 and Supertrend at $0.0000630 are sitting just above current price and converging, forming a tight resistance cluster that every rally attempt has failed to clear since October. A daily close above $0.0000630 would flip both indicators simultaneously and mark the first structural shift in the daily trend since the channel began. Below, the channel’s lower boundary near $0.0000500 is the floor that matters through the rest of April.
Key levels for $SHIB:
- SAR resistance: $0.0000622
- Supertrend resistance: $0.0000630
- Channel upper boundary: $0.0000750
- Channel lower boundary: $0.0000500
- 200-day EMA: $0.0000818
Burn Rate Drops 89% As Robinhood Burns Appear In The Log
The 24h burn rate fell 89.17% with burn activity dropping sharply through the afternoon before recovering toward 500,000 $SHIB per hour by midnight.
The latest burn log shows two Robinhood-sourced transactions, 169,420 $SHIB thirteen hours ago and 500,000 $SHIB one day ago, alongside several wallet-to-dead-address burns including a 4,000,000 $SHIB transaction one day ago. Total supply burned remains at 41.08% of the original one quadrillion, with circulating supply at 589.24 trillion.
$SHIB Derivatives: Shorts Absorbing Most Of The Pain
Volume fell 19.49% to $138.33M while OI dropped 3.96% to $52.62M, both declining and reflecting reduced participation rather than directional conviction. The long/short ratio sits at 1.0325, leaning slightly long, with OKX accounts at 1.89.
Over 24 hours, longs absorbed $36.17K in liquidations against just $9.90K for shorts. Longs are taking more pain at current levels, consistent with buyers attempting entries near the SAR resistance and getting stopped out before the breakout confirms.
$SHIB Price Prediction: What April 8 Needs
- Upside: A daily close above the SAR at $0.0000622 and Supertrend at $0.0000630 flips both indicators to support simultaneously. The meme coin market cap continuing to recover toward $33B would give $SHIB a sector tailwind. The channel midline near $0.0000750 becomes the April target if the breakout holds.
- Downside: SAR and Supertrend hold as resistance and $SHIB drifts back toward the channel lower boundary at $0.0000500. Burn rate staying depressed after the 89% drop removes the supply narrative, and with longs getting stopped out repeatedly at current levels, a failure to clear $0.0000630 by end of week puts the channel floor in view.