Shiba Inu's price is testing a crucial support level at $0.00000708, as the token experiences a significant 10,527% spike in its burn rate, removing over 171 million tokens from circulation in a single day. This development comes as Shiba Inu forms a falling wedge pattern, with technical indicators suggesting a potential rebound. The Relative Strength Index (RSI) has reached oversold levels, and the MACD is showing signs of a bullish divergence, indicating a possible price reversal. Despite a decline of over 85% from its 2024 peak, Shiba Inu's price action hints at a short-term recovery. The token is approaching resistance at $0.00001030, a level that has previously acted as a significant swing point. The recent burn rate increase, driven by a single wallet transaction, has reduced the circulating supply, potentially supporting a price rebound. Broader economic factors, such as anticipated Federal Reserve rate cuts and proposed U.S. stimulus measures, could further influence Shiba Inu's market dynamics.