Discover the reasons behind the SHIB crypto's downtrend and the impact of technical indicators on its price. Stay updated on live digital currency prices.
Shiba Inu (SHIB), the second largest meme coin by market value, is facing a severe downtrend with various technical indicators confirming this bearish trend. The token burn rate of SHIB has decreased by 61% due to the market correction following Bitcoin’s price drop, leading to a trading volume of less than $400 million. Recent data from Shibburn indicates a 61% decrease in the token burn rate in the past 72 hours, while showing a 470% increase in the last 24 hours. Along with the drop in the token burn rate, SHIB’s trading volume has also decreased to $379 million, signaling a decline in investor interest.
