Following the intensive burn session, SHIB’s price experienced a notable rebound. The meme coin rose approximately 9% in 24 hours, climbing from $0.00001162 to $0.00001267. Despite a previous 15% plunge between Friday and today, this upward movement signals renewed investor optimism. In contrast, Bitcoin also posted a modest 4% gain today, reaching $83,200, even after an 11.26% drop earlier in the week.
While the burn activity and price spike are promising for SHIB, the overall market sentiment remains cautious. Since the beginning of the year, SHIB has slipped to the 18th position on CoinMarketCap, with a market capitalization of approximately $7.4 billion. The current developments come amid broader market reactions to recent announcements regarding the U.S. Strategic Bitcoin Reserve, which have yet to meet community expectations.
As traders closely monitor key technical levels, the outcome of this burn-driven rally may dictate whether SHIB can sustain its momentum and climb back into the top-20 rankings, or if further consolidation will follow.