The Shiba Inu (SHIB) cryptocurrency has experienced a significant increase in its burn rate, with a surge of 6,153% in the past week. A total of 5,761,510,009 SHIB tokens were burned in the last seven days, representing a 6,137.49% increase. This was achieved through efforts within the Shiba Inu ecosystem, including contributions from the community and token burns from projects within the ecosystem. The burn reduces the total supply of SHIB, aligning with the community's goal to increase token value through scarcity. However, there were no SHIB tokens burned in the last 24 hours. Shiba Inu's price has been declining, reflecting a broader market sell-off, with Bitcoin also experiencing losses. SHIB is currently trying to hold critical support at $0.000017 to prevent further selling. On the upside, if there is a relief rally, SHIB may aim for a recovery toward the daily SMA 200 barrier at $0.00001845.



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