Shiba Inu Burn Rate Crashes 61%, Trading Volume Falls Below $400 Million, Why Are Bearish Indicators Piling Up?

Shayba Eno (Ship), the second largest Mimi currency depending on the market value, facing Severe negative momentum Many technical indicators turn into a declining. With the market entering a reform stage due to the decrease Decrease in the burning rate While the trading volume decreases to less than $ 400 million.

The multiple Shiba Eno indicators turn on

One of the basic stimuli of the fixed growth in the value of the Shaiba Eno over the years was Strategy to burn the distinguished aggressive symbol It is implemented by members of society and developers of the distinguished symbol. Since its establishment in August 2020, the ecosystem of the ecosystem of Jiba Eno burned a total of 410.7 trillion symbols of its initial supply of 999.9 trillion.

However, recently Data From Shibburn, Shiba Inu Burn Tracker showed a 61 % decrease in the burning rate at the last 72 hours. While this decrease in SHIB Burns caught the attention of the broader market, Tracker Shibburn reveals a noticeable shift, Show 470 % Increase the burning rate In the last 24 hours.

In addition to the previous 61 % decrease in the SHIB burning rate, the Meme Coin trading volume decreased to less than 400 million dollars to $ 379 million, according to Coinmarketcap. this Decrease in trading volume It refers to a decrease in the investor’s interest, which is often an introduction to low prices in the encryption market.

Currently, many factors contribute to the task Decrease in the Shiba Eno market Indicators. The broader encryption market suffers from increased fluctuations yet Bitcoin price decreased to less than 100,000 dollars. This low price effect on most cryptocurrencies, with Meme currencies such as SHIB bearing the greater burden.

In addition, the ongoing trade war between the United States (the United States) Donald Trump, China, Canada and Mexico has affected the encryption market. after Declaration of Trade WarBitcoin price, followed by other major cryptocurrencies and coins.

From writing this report, Price Sheba Eno decreased To the lowest new levels about the 0.000015 brand. This collapse in the market value is driven by declining technical indicators, low investor confidence, and Continuous market fluctuation. Other technical indicators, with the exception of the combustion rate and trading volume, also achieved great success as the MAS MAS averages (MAS) in red. Meanwhile, the RSI (RSI) index, sits around 31 %, Indicate Neutral level.

The data on the series reveals that the SHIB is often declining

new Reports From InTothheblock reveals that Shiba Inu is currently appearing Strong downward signals. After being exposed to a 30 % price collapse over the past month, Mimi has struggled to restore momentum to restore previous gains. Coinmarketcap data also shows that the cryptocurrency has decreased steadily over the past few days, with a decrease of approximately 20 % last week and a decrease of 5.5 % in the past 24 hours.

Due to his landmark, ITB informed Shiba Inu as “mostly landing.” The data analysis platform also revealed that 57 % of Shayba Eno holders witnessed a loss While only 47 % are registered gains.

Distinctive image from Adobe Stock, Chart from TradingView.com