$SHIB shows solid burn rate increase as the week starts, bringing more activity to the market, despite depressing performance
has experienced volatility and stagnation due to the de-risking of the industry and overall outflow of funds from the market.
The burn rate is a measure of the number of tokens permanently removed from circulation. A higher burn rate often correlates with a positive price impact as it reduces the supply, potentially leading to an increase in demand. However, this relationship has not been evident in the case of Shiba Inu, as the price performance has remained subdued.
Regarding the most recent price performance of SHIB, the meme currency is currently trading at $0.00001, having lost 5% in value over the last week. It is also trading under both the 50- and 200-day moving averages, indicating a bearish trend.
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