Shiba Inu Cryptocurrency Sees Significant Increase in Token Burn

Shiba Inu (SHIB) cryptocurrency has seen a significant rise in token burns, with a 192% increase in the past 24 hours, resulting in 4,796,486 SHIB tokens being removed from circulation. This surge in burns, reported by Shibburn X, coincides with subdued trading activity in major cryptocurrencies like Bitcoin. Shiba Inu experienced profit-taking after a 20% rally to $0.0000294 on May 29 but has since declined for four days, dropping 2.18% to $0.00002473. The market's response to this profit-taking phase will be crucial in determining SHIB's short-term price trajectory, with the 50-day SMA at $0.00002454 being a key support level.$SHIB #shiba⚡ #Shibalnu