Shiba Inu Price Dropped After Reaching July High, Burn Rate Barely Moved

Shiba Inu's price dropped 4.8% on Monday after reaching a July high and breaking its structure, while its burn rate remained near flat.

The token spent Sunday trying to touch a price it hadn't seen since early August but gave the whole move back by Monday morning.

SHIB traded at $0.000005638 as of 08:00 UTC on September 28, down from the previous week's levels and below its own 20-day high.

The break of Sunday's low without a reclaim gives the downside path an edge for now, but closes above $0.000005631 would change that.