$SHIB behavior on the market shows the inability of bulls to push it further, but it might not last long
investors have capitulated, making the asset a good choice for whales who are willing to actively accumulate the token without worrying about a sudden appearance of strong selling pressure that would lead to the end of the recovery rally.The burn rate for the token remains around the levels we witnessed throughout the last three months, and the situation may not change until the cryptocurrency market sees a recovery.
The operational volume of merchants remains the main source of burning volume for Shiba Inu. According to the most recent on-chain data, it is too low to provide a noteworthy amount of fuel for investors to burn.At press time, Shiba Inu is trading at a level close to what we saw back in June 2022, which is considered a local low for the token.
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