CandleFocus Shiba Inu price and burn rate are falling: time to sell?
2024-12-09
Author: Content Editor
The price of Shiba Inu (SHIB) experienced a decline of about 7% due to a general retreat in the cryptocurrency market. This drop in price coincided with a significant decrease in the burn rate of SHIB coins. However, Shiba Inu's ecosystem has shown positive growth, with Shibarium processing over 623 million transactions and ShibaSwap achieving over $28 million in total value locked. The price chart indicates a potential bullish outlook, with a target set at $0.00005478 if it surpasses its year-to-date high, but this outlook will be invalidated if the price drops below $0.000026.
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