At press time, SHIB’s price tanked 4.72% to trade at $0.00001858. The token’s 24-hour lows and tops were $0.00001856 and $0.00001941, respectively.
Despite an 874% surge in the burn rate today, per Shibburn’s data, the token has traded in the red zone. Nearly 8 million coins were recorded to have been incinerated in the past 24 hours, failing to cause an upswing.
Today’s price dip primarily aligns with the broader market trend, birthing speculations of a SHIB recovery alongside the broader market recovery potentially lying ahead. The RSI inched slightly toward the buying region, at 53, although the Shiba Inu coin is currently neither overbought nor oversold.
Moreover, in light of the abovementioned hack, SHIB execs have taken to X, expressing concerns. The meme coin’s marketing lead LUCIE stated, ‘I sincerely hope all $SHIB holders get their money back and WazirX India fixes this.’ In addition, executive Kaaldhairya commented, ‘Really sad, stay strong
