Janni Olsson
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🔥 Shiba Inu Coin Faces Pressure: Decline in Burn Rate and Shibarium Fees 🔥
Shiba Inu ($SHIB) is facing bearish sentiment as key metrics signal reduced activity and enthusiasm around the token. A significant drop in burn rate, coupled with falling Shibarium fees, has raised concerns about its short-term price trajectory.
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📉 Key Developments:
1️⃣ Burn Rate Crash: In the past 24 hours, SHIB’s burn rate has plummeted by over 98%, with only 507,123 SHIB burned. This marks a steep decline compared to recent levels, reducing the deflationary momentum for the coin.
2️⃣ Shibarium Fees Falling: Shibarium, Shiba Inu’s Layer-2 scaling solution, is experiencing declining activity. Average transaction fees, which peaked at 0.0004 earlier this month, have continued to drop.
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📊 Current Market Stats:
Price: $0.00002229
24H Trading Volume: $638.55 million
Market Cap: $13.14 billion
Circulating Supply: 589.26 trillion SHIB
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📉 Bearish Indicators:
The total value locked (TVL) on Shibarium has fallen sharply, now sitting at $3.55 million, down from over $6 million earlier this month.
Analysts suggest that Shiba Inu could face further downside, with a potential drop to $0.00001590, a level last seen on October 25.
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⚠️ What This Means for Investors:
The decline in the burn rate and reduced activity on Shibarium highlight a critical phase for Shiba Inu’s ecosystem. While the bearish sentiment prevails, the cryptocurrency market remains volatile, and unexpected catalysts could still drive price action in either direction.
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📈 What to Watch:
Recovery in Shibarium's activity and transaction fees will be crucial for restoring investor confidence.
Look for potential support at $0.00002000 and resistance near $0.00002400 for short-term trading opportunities.
#ShibaInu #SHIB #Shibarium #CryptoNews #BinanceUpdates
$SHIB
Shiba Inu ($SHIB) is facing bearish sentiment as key metrics signal reduced activity and enthusiasm around the token. A significant drop in burn rate, coupled with falling Shibarium fees, has raised concerns about its short-term price trajectory.
---
📉 Key Developments:
1️⃣ Burn Rate Crash: In the past 24 hours, SHIB’s burn rate has plummeted by over 98%, with only 507,123 SHIB burned. This marks a steep decline compared to recent levels, reducing the deflationary momentum for the coin.
2️⃣ Shibarium Fees Falling: Shibarium, Shiba Inu’s Layer-2 scaling solution, is experiencing declining activity. Average transaction fees, which peaked at 0.0004 earlier this month, have continued to drop.
---
📊 Current Market Stats:
Price: $0.00002229
24H Trading Volume: $638.55 million
Market Cap: $13.14 billion
Circulating Supply: 589.26 trillion SHIB
---
📉 Bearish Indicators:
The total value locked (TVL) on Shibarium has fallen sharply, now sitting at $3.55 million, down from over $6 million earlier this month.
Analysts suggest that Shiba Inu could face further downside, with a potential drop to $0.00001590, a level last seen on October 25.
---
⚠️ What This Means for Investors:
The decline in the burn rate and reduced activity on Shibarium highlight a critical phase for Shiba Inu’s ecosystem. While the bearish sentiment prevails, the cryptocurrency market remains volatile, and unexpected catalysts could still drive price action in either direction.
---
📈 What to Watch:
Recovery in Shibarium's activity and transaction fees will be crucial for restoring investor confidence.
Look for potential support at $0.00002000 and resistance near $0.00002400 for short-term trading opportunities.
#ShibaInu #SHIB #Shibarium #CryptoNews #BinanceUpdates
$SHIB
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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