Despite hitting a significant milestone with its Shibarium L2 blockchain, Shiba Inu (SHIB) has experienced a 13% price plunge in the last 24 hours. This decline comes as a result of falling burn rates and rising exchange netflows, leading to increased selling pressure despite recent ecosystem advancements. While the protocol now surpasses 10 million blocks added and over one billion transactions processed, SHIB’s valuation remains under pressure. Analysts had previously predicted that Shibarium’s progress could positively impact SHIB’s price. However, this latest milestone failed to halt the downtrend, with SHIB crashing to a year-low of around $0.00001053. 2023 has seen a significant downturn in the cryptocurrency market as global trade tensions escalate between the USA and other countries, causing Bitcoin, Ethereum, and many other major altcoins to plunge. The crash appears to be linked to concerns about economic stability. While the future of the trade war remains uncertain, it may contribute further negative pressure on the crypto market. Shibarium’s burn rate has decreased by 85% in the last week, resulting in just 180 million tokens being destroyed, a figure far lower than the previous record of 410 trillion SHIB sent to null addresses over the past few years. On the other hand, the token’s exchange netflow has been positive for most days over the past week, suggesting a shift toward centralized platforms. This could fuel selling pressure and further weaken SHIB’s price. The analysis reveals potential challenges and uncertainties in the cryptocurrency market.