Shiba Inu Price Plunges 7.09% Amid Token Burn Slowdown

Shiba Inu (SHIB) is trading at $0.000005, down 7.09% for the day and positioned below its key moving averages.

The token's price has been affected by a slowdown in SHIB burns, with the burn rate dropping 25% to 5.33 million tokens burned.

Despite ongoing ecosystem upgrades, including the merger of Shibarium RPC endpoint into the ethereum-lists/chains directory, network activity has surged to $40.23 million in transaction volume.

The SHIB/USD price is expected to remain within a narrow trading range between $0.00000483 and $0.00000511 over the next 2-3 trading days, with a high likelihood of a breakdown below support.