Shiba Inu Burn Rate Spikes 2,227%: What’s Going On?

‘Dogecoin Killer’ Shiba Inu’s (CRYPTO: SHIB) relatively flat performance over the past week has not stopped its burn rates from increasing.

Cryptocurrency Price    Market Cap 24-Hour Trend 7-Day Trend
Shiba Inu (CRYPTO: SHIB)  $0.00002167 $12.8 billion -5.2%  -2.2%
Dogecoin (CRYPTO: DOGE)  $0.314 $46.3 billion -5%  -1.5% 
Pepe (CRYPTO: PEPE)  $0.00001743   $7.3 billion  -5.5%  -1.2%

Technical Analysis: Benzinga technical analysis shows Shiba Inu’s RSI is oversold at 28.6. This suggests that the price has fallen significantly over a short period, with potential for a price rebound or reversal.

Traders may interpret an RSI below 30 as a signal to …

Full story available on Benzinga.com

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