שיבא ינו (shib) price was down 8% on the day at press time, along with cryptocurrencies across the board. Is there anything that can help it turn the ship around?
A bearish start to the week on Nov. 7 pulled down the prices of most of the top cryptos, including the top meme coins that charted quite a run in October-end. Shiba Inu price action, however, presented some gains on the hourly chart despite the larger bearish blues.
As of late, aggressive SHIB burning and the accumulation of Shiba Inu tokens have acted in favor of the meme token’s price. So, can whales and burns save the SHIB price action this time too? Let’s find out.
40M Shiba Inu Burned
A recent update from Shibburn highlighted that in the last 24 hours, there had been a total of 40,128,196 SHIB tokens burned.
Source: https://beincrypto.com/shiba-inu-shib-price-needs-more-ethereum-whale-support/