Shiba Inu Coin Price at Risk: A Decline in Burn Rate and Shibarium Fees 🚨

Shiba Inu's (SHIB) current price is facing a significant threat due to a drastic decline in its burn rate and Shibarium fees. This downward trend has led to a price drop, with SHIB currently trading at $0.00002229.

Key Statistics:

- 24-hour trading volume: $638.55 million

- Market capitalization: $13.14 billion

- Circulating supply: approximately 589.26 trillion SHIB

Decline in Burn Rate and Shibarium Fees:

- Burn rate has crashed by over 98% in the last 24 hours, with only 507,123 SHIB burned.

- Shibarium fees have continued to fall after peaking at 0.0004 earlier this month.

- Total value locked on Shibarium has dropped to $3.55 million from over $6 million on December 7.

Market Implications:

- The decline in Shiba fees indicates reduced activity on the network.

- Bearish sentiment is growing, with some analysts predicting a potential price drop to $0.00001590, its lowest level on October 25.

Important Reminder:

- The cryptocurrency market is highly volatile, and prices can fluctuate rapidly.

Stay informed and stay ahead! 📊