$BTC SHIB Drops 7%: Is This the Start of a Bigger Correction?

SHIB is trading near the $0.000011 mark.

The 24-hour trading volume has jumped by 292%.

Following the steady market crash, the meme coin market cap has reached $42.5 billion after a 15.1% slip. The dog-themed Shiba Inu (SHIB) has lost over 7.81% in the past 24 hours. 

The meme coin opened the day trading at a high of $0.00001211. Eventually, the bears pulled SHIB to trade on the downside, at a low of $0.00001038. At press time, the meme coin traded at $0.00001105, with its trading volume reaching $443 million. 

Shiba Inu’s burn rate is up by 2060231.23%. Notably, 13,392,153 tokens were burned. To date, the SHIB ecosystem has burned 410.74 trillion SHIB, leaving over 584.36 trillion tokens in circulation.