LIVEš¶ Shiba Inu Faces 20% Drop Amid Market Trends, Community Burns 37M Tokens
Shiba Inu (SHIB) faces a potential 20% decline amidst market uncertainty despite efforts to burn 37 million tokens for supply control. The token struggles amid broader market downtrend due to Bitcoin's price decline. Investor activity is minimal, evidenced by reduced network growth. Recent movement of tokens to short-term holders raises the possibility of profit-taking corrections. Price projection indicates a potential decline to $0.00002268, with stronger support at $0.00002039. However, recovery to $0.00002835 is plausible if the 100-day EMA holds. The community's token burns aim to boost SHIB's value, but recent burns have reduced. Despite these efforts, SHIB traded in the red, sparking speculation. Its price fluctuates between $0.000009 and $0.000044, with a neutral market sentiment. Analysis suggests a breakout rally to $0.0001 or a return to $0.00002 support level depending on market dynamics.
