𝙎𝙝𝙞𝙗𝙖 𝙄𝙣𝙪 𝙋𝙧𝙞𝙘𝙚 𝙍𝙞𝙨𝙠𝙨 35% 𝘾𝙧𝙖𝙨𝙝 𝘿𝙚𝙨𝙥𝙞𝙩𝙚 103,222% 𝙎𝙪𝙧𝙜𝙚 𝙞𝙣 𝙎𝙃𝙄𝘽 𝘽𝙪𝙧𝙣 𝙍𝙖𝙩𝙚

Shiba Inu (SHIB) price has dropped to a crucial support level this week as whale selling and network activity fall. Losing this support will increase the risk of the token falling by 35% to its lowest level in 2023, even after the sudden 103,222% surge in its burn rate. As of June 12, SHIB price today trades at $0.00001263, down by 27% from its highest point this year and 62% lower than its November high. This descent can be attributed to the recent drop in crypto market valuation due to BTC’s drop. SHIB’s 24-hour volume dropped by 9% to $200 million.

Shiba Inu price could drop 35% if it breaks a key inclined support level.

The daily SHIB burn rate jumped by 103,222% to 102,141,121.

On-chain metrics show that Shiba Inu network activity and active addresses are falling while whale selling is increasing.