Shiba Inu experienced a remarkable increase in its burn rate, soaring by 2,542% over the last 24 hours. This successful burn eliminated over 68 million SHIB tokens from the circulation, according to data from Shibburn.
However, despite such a significant token burn rate, SHIB's price dropped by 8.55% to $0.000030. Earlier this week, Shiba Inu had experienced a 24% price surge, but it now faces challenges.
In recent trading, the token has struggled to break past the resistance level of $0.000033. This resistance has been tested twice within the past seven days, pointing towards potential market obstacles.
