# Burn Rate Related Articles

Shiba Inu (SHIB) in the Red Zone: Will It Find Support or Head for a Steeper Fall?

Shiba Inu (SHIB) has declined by over 7.41% in the past 24 hours amid a broader crypto market downturn. Trading at $0.000006265, SHIB's market cap stands at $3.67 billion, while its volume surged by 23.81%. The token’s burn rate dropped 100%, with 410.75 trillion tokens burned from the initial supply. Technical indicators suggest a bearish trend, with the MACD crossing below zero and the RSI at 30.29 nearing oversold conditions. Support is seen around $0.000006250, with a risk of falling further if bearish pressure continues. A break above $0.000006280 could signal a bullish reversal. The Chaikin Money Flow and Bull Bear Power also reflect weak momentum and mild bearish sentiment.

TheNewsCrypto02/05 14:01