Over the past week, the price of $SHIB has grown significantly with a 14.89% increase in value. The price traded in the range of $0.00001645 to $0.00002001 shows an upward trend in market valuation.
According to the latest Shibburn tracking data, the cryptocurrency witnessed significant activity in the #shiba⚡ Inu market, which may fuel the bullish trend.
In the past 24 hours, 600,776 #SHIB tokens have been burned in six transactions, indicating a proactive effort to reduce the coin's circulating supply. Although this burning activity has decreased by 26% compared to the previous period, it continues to attract the attention of investors looking for signs of long-term appreciation.
Shiba Inu Coin price prediction is currently at a critical juncture, testing the $0.00002 resistance level. Going above this threshold could cause its value to rise to $0.00003. Such a breakthrough could push the value as high as $0.00005.
However, if SHIB fails to cross this limit, its price will likely drop to $0.000019. A decline in market sentiment could further reduce its value to $0.000018.
Under more adverse conditions, the price could decline below $0.000017. This scenario would signal challenging times ahead for the cryptocurrency.
