Shiba Inu’s Price Pullback Amidst Market Dip, But Burn Rate & Shibarium TVL Rise

Despite recent declines, Shiba Inu (SHIB) has seen its price fluctuate. After hitting a high of $0.00001270 last week, the coin has dipped by 20%, bringing it to near $0.00001270. The pullback coincides with wider market trends, including a drop in US stocks and Bitcoin’s slide below $83,000. 50-day and 100-day EMAs remain below the current price level suggesting that bears still exert pressure on SHIB. However, a glimmer of hope arises from rising burn rates and increased TVL for Shibarium.