Shiba Inu Burn Rate Drops 97.77% Amid 18% Price Decline
Shiba Inu (#SHIB) has experienced a significant decline in both its burn rate and price. Key developments include:
- The burn rate dropped 97.77% in the past day, with nearly 700K SHIB tokens removed from circulation.
- Overall, the community has burned 410 trillion SHIB tokens to date.
- SHIB's price fell by 18%, currently trading at $0.00001449, and is 83.91% below its all-time high of $0.00008845.
- Trading volume surged by 317% to $1.47 billion.
Upcoming Developments
Lead developer Shytoshi Kusama released a short video on social media, suggesting major changes ahead for SHIB. The video included phrases like "something is shifting" and urged investors to prepare for significant transformations within the ecosystem.
Price Analysis
The Relative Strength Index (RSI) for SHIB is at 24.94, indicating an oversold condition. The Moving Average Convergence/Divergence (MACD) remains bearish, and current price action suggests potential further declines.
