Shiba Inu Burns Spike 673%, But This Dogecoin Resistance Is An Even Bigger Story

Benzinga04-26

DOGE’s Fifth Test At $0.10Dogecoin is holding just below the $0.10 psychological level and the Supertrend at $0.10278 that has capped every rally for weeks. The ascending triangle remains intact with ...

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Resistance clusters at $0.10278 (Supertrend), then $0.10508 (100 EMA), then $0.12615.SHIB Burns 8.3 Million TokensShiba Inu is pressing against the upper Bollinger Band at $0.00000631—the same level that has capped every rally attempt for weeks. A daily close above it would be the first real breakout since the downtrend began.The 24-hour burn rate surged 673.16%, peaking near 8.3 million tokens burned around 15:00 UTC before tapering off. Meanwhile, the weekly burn rate is up 19.22%, showing the activity is becoming more consistent rather than random spikes.The SAR at $0.00000587 sits below, maintaining the short-term bullish signal.Support sits at $0.00000602 (BB mid), then $0.00000587 (SAR), then $0.00000573 (lower BB). Resistance clusters at $0.00000631 (upper BB), then $0.00000669, then $0.00000700.The Broader Memecoin PictureMemecoins have rallied nearly 20% to a $34 billion market cap, but analysts say the move is narrow and misleading. The sector remains down 75% from its 2024 peak, driven by a handful of tokens while most lag behind.Despite skepticism, developments like Canary Capital’s Pepe (CRYPTO: PEPE) ETF filing highlight continued institutional curiosity. Sentiment is still largely speculative, with some calling it a recycled setup rather than a true recovery.Image: ShutterstockMarket News and Data brought to you by Benzinga APIs© 2026 Benzinga.com. Benzinga does not provide investment advice. 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