SHIB Experiences Significant Price Drop as Burn Rate soars and Whales Become More Active

Shiba Inu (SHIB) price experienced a significant decline this week, dropping 7% after strong gains earlier in April. This downturn comes amid increased burn rate fueled by whale activity, potentially impacting the cryptocurrency’s overall value. While whales made substantial transactions, the number of active wallets saw a slight decrease. The rest of the market remained relatively stable over the weekend, with top coins such as Bitcoin, Ethereum, Solana, and Shiba Inu showing minimal price shifts. SHIB particularly was down nearly 9% last week from its April lows, highlighting investor concerns about the recent price drop.