Shiba Inu ($SHIB ) skyrockets!
The Shiba Inu cryptocurrency (SHIB) has seen a notable increase in value, up more than 10% following a significant burn of 360 million SHIB tokens last week. This reduction in the total token supply has positively affected market sentiment.
The SHIB community actively contributed to the burn, eliminating an additional 3.84 million tokens today. Despite the recent downturn, SHIB has managed to recover and is currently trading actively.
In terms of market activity, SHIB's price is quite volatile, ranging from 0.00001296 USD to 0.00001546 USD. The relative strength index (RSI) is around 30, indicating some bearish pressure.
The significant token burn is a significant event for SHIB and is likely to lead to further price increases. However, due to the high volatility of the market, prices can change rapidly, so caution is advised.