Shiba Inu (SHIB) Reclaims Crucial Support As SHIB Burn Rate Soars 656%

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The Japanese guard dog-themed cryptocurrency Shiba Inu (SHIB) had a hard time this week as the second largest crypto exchange in the world, FTX, was smashed to smithereens. Naturally, this had negatively affected most of the TOP 100 altcoins by market capitalization, with Solana (SOL) dropping by more than 50%, as a large part of the altcoin was held in FTX’s liquidity.

Hence, SHIB managed to unlock an achievement of surpassing the troubled SOL to reclaim the #13 position in the crypto charts. After the news, SHIB lost its crucial resistance line at $0.00001 for a brief moment but managed to restore it on Friday morning. As the SHIB Army hopes for Shibarium, the optimistic approach can lead to positive changes for the canine crypto.

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Gn #ShibArmy Thrilled knowing #Shibarium and many more utilities will be loading soon