SHIB Under Siege Amid Ongoing Market Volatility

In a close-up report on the current situation, the sudden increase in burn rate may provide some limited control over the supply side, but it has not been able to stop the decline of the coin. Adding to SHIB’s problems, it has been facing challenges in holding on to important support levels, approaching a critical support level of $0.0000165. If a quick recovery is not achieved, SHIB could be vulnerable to more selling pressure, which may worsen its losses in the short term.