Shiba Inu ($SHIB ) is currently facing significant downward pressure, with technical indicators suggesting a potential 22% price decline. As of now, SHIB is trading at approximately $0.00001287, reflecting a slight decrease of 0.026% over the past 24 hours.

This bearish outlook is influenced by several factors, including a declining SHIB burn rate and a decrease in the total value locked (TVL) on Shibarium, Shiba Inu's Layer 2 blockchain. These developments indicate reduced network activity and investor engagement, contributing to the negative sentiment surrounding SHIB.

Investors should monitor these trends closely, as they may impact SHIB's short-term performance.

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