#Shibalnu on Fire: Is It Enough for a Bull Rally?

The Shiba Inu is on fire! Its burn rate skyrocketed an astonishing 3084.6%, significantly reducing its circulating supply. Despite this effort to boost its long-term value, the $SHIB shows signs of cooling down.

On-chain activity reveals a decrease in transfer volume and active addresses, while reserves on exchanges are slightly increasing. Currently testing a crucial support, the Shiba Inu needs to overcome resistance to maintain bullish momentum, also influenced by the actions of large whales.