Shiba Inu burn rate might turbocharge push for price rebound
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At the time of writing, the price of Shiba Inu is $0.00001583, down by 5.86% in 24 hours. The token has traded within a fairly wide range within this period, dropping from a high of $0.00001702 to a low of $0.00001569 before settling at its current level. The burn rate might be a major anchor for Shiba Inu, preventing it from slipping further below the $0.000015 support zone. If this level holds long-term, the SHIB price may soon rebound and It is almost unrealistic to project a solo rally for Shiba Inu. Notably, the digital currency correlates with the broader crypto ecosystem. However, should the market outlook improve in the near term, it might fuel a rapid rally for SHIB, banking on its volatility.
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