US Winter Storm Forces Bitcoin Miners to Cut Production Significantly
- Hashrate Decline: Amid Winter Storm Fern in January 2026, US Bitcoin miners significantly reduced production, leading to a hashrate drop of 8-40%, which directly impacted miners' financial returns and network performance.
- Grid Demand Response Activated: The storm caused power outages affecting over 1 million customers, prompting demand-response programs across multiple states, with major miners like Foundry USA and CleanSpark reducing power usage to support grid stability.
- Significant Economic Impact: Daily revenue for Bitcoin miners plummeted from $45 million to a yearly low of $28 million, illustrating the direct economic shock from extreme weather, while network congestion increased, prolonging block creation times.
- Increased Regulatory Scrutiny: This event may lead to further scrutiny of the integration between mining operations and grid infrastructures, particularly under extreme weather challenges, highlighting the importance of collaboration between miners and grid operators.
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Technical Analysis for SHIB
Technical Sentiment Analysis for Shiba Inu (SHIB) As of , Shiba Inu (SHIB) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 0 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for SHIB stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, SHIB is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Shiba Inu (SHIB) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00000297 | 0.00000402 | 0.00000528 | 0.00000633 | 0.00000759 | 0.00000864 | 0.0000099 |
| Fibonacci | 0.00000402 | 0.0000049 | 0.00000545 | 0.00000633 | 0.00000721 | 0.00000776 | 0.00000864 |
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