Just been staring at the Shiba Inu charts and there's definitely some interesting dynamics playing out. SHIB's been hovering around that $0.0000579 level with a nasty cluster of resistance layers stacked right above it. The Bollinger Bands have squeezed in tight since February - upper band sitting at $0.0000613, middle around $0.0000592, and the lower band down at $0.0000571.

What caught my eye is the burn rate jumped 339% in 24 hours, which sounds wild until you zoom out. Looks like most of that action was concentrated in one evening window. The 7-day picture tells a different story though - April 10 was the real peak at 11.5M SHIB burned, and it's been trending lower since. For the supply narrative to actually hold, burns need to stay above 5M daily. They're not there right now, which is a problem.

On the technical side, there are three resistance layers basically forming a ceiling. First is the SAR at $0.0000616, then the upper Bollinger Band at $0.0000613, and above that a descending trendline from September running through $0.0000620-$0.0000630. Every rally since October has hit one of these and rolled over. Volume dropped 40% to $83M while open interest barely budged up 0.7%, so there's not much fuel here.

If Shiba Inu can close above $0.0000616, it clears the first two resistance layers. Below $0.0000571 opens up the channel floor at $0.0000500 with nothing in between. The setup feels binary - either a clean break or a flush down. Watching this one closely.