Attention Shiba Inu (SHIB) investors: Will it go up?

The recent decline in the market has hurt the prices of leading crypto assets, including Shiba Inu (SHIB). At its current level of $0.00002220, the dog-themed memecoin is down 1.42 percent on monthly charts, 6.6 percent in the last seven days, and 3.47 percent in the last 24 hours.

The massive crash also impacted three key metrics related to SHIB, including burn rate, Shibarium daily transaction count, and whale adoption trends. It is of great importance to follow these elements as they can determine SHIB's price movement this week.

As of yesterday, the Shiba Inu burn rate dropped 74.5 percent in a 24-hour period, with only 271,470 SHIBs burned. The amount burned on June 10 is not enough to positively affect the price of Shiba Inu, whose market value is 13.08 billion dollars.

However, #SHIB burns gained momentum earlier today, with the burn rate increasing by 2,814 percent in the last 24 hours. This represents a daily SHIB burn of 7,912,388 (7.91 million) worth $175 at the current exchange rate.

Another important trend to watch is Shibarium's total number of transactions. In particular, Shibarium's adoption rate has dropped significantly due to the recent market downturn. Latest data shows that Shibarium adoption rate continues to drop to lower levels. Shibarium's total number of transactions, which was 8,780 on June 5, is currently around 4,360.

While these measurements may raise concerns among investors, the upside is that they could pave the way for a potential reversal in #SHIB price before this weekend. Interestingly, new investors may see this as an opportunity to purchase SHIB at discounted prices, potentially paving the way for a resurgence of interest among whales

Additionally, leading crypto exchanges including Coinbase and Robinhood have been shuffling a large amount of SHIB tokens in the last 24 hours. As previously reported, these two trading platforms moved 9.6 trillion SHIB in one day; This corresponds to 1.62 percent of the circulating supply of #ShibaInu .
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