Shiba Inu (SHIB) has decreased by more than 15% in the past two weeks, raising concerns among investors. The current price is $0.00002575, down 6% for the day. 🐶
Several factors suggest that the downward trend may continue, including a 70% decrease in the SHIB burn rate and a significant drop in trading volume of 4.2%. The meme coin sector is also under pressure, with a 4% decrease in market capitalization.
However, not everything is negative. SHIB reserves on exchanges have significantly decreased, indicating a shift towards self-custody methods. SHIB's RSI index is also near the oversold zone, suggesting a potential rebound. 📈