The Shiba Inu community has conducted a significant token burn, removing 12,546,958 SHIB from circulation, which has helped to establish price stability for the cryptocurrency. As a result, SHIB closed Wednesday's trading session with a 2% profit margin, the first time it has ended a session in profit in over a week. The token burn is a routine operation by the Shiba Inu community aimed at reducing the circulating supply and creating scarcity to drive up the value of SHIB. Despite experiencing bearish pressure, SHIB has shown a slight price rally of 4.35% in the last 48 hours, suggesting a potential return of bullish sentiment. It is important for SHIB to surpass a notable support-turned-resistance level at $0.00002202 to confirm a trend reversal. The team behind the Shiba Inu project continues to work towards price stability.



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