The price of Shiba Inu (SHIB) has experienced a significant decrease in the past 24 hours. Despite this, the burn rate for SHIB has increased by 229%, indicating that some members of the SHIB ecosystem still have trust in the project. Over 2.6 million tokens have been sent to dead wallets, bringing the total tokens burned to 410,730,847,872,516 SHIB. The circulating supply now stands at 583,510,240,764,212 units. The consistent growth of the burn rate has maintained a positive sentiment in the ecosystem, which could attract prospective investors. The current price of Shiba Inu is $0.00001583, showing a 5.86% decrease in 24 hours. The burn rate may act as a support level for SHIB, preventing it from dropping further. However, the recovery of SHIB in the long term is uncertain due to its correlation with the broader crypto market, including the uncertain legal battle between Ripple and the SEC and the performance of Bitcoin.



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