Shiba Inu (SHIB) has experienced a nearly 10% decline this month, with its price dropping from approximately $0.000012 to $0.00001081. Despite a significant 27,014% increase in its burn rate, only 43.48 million tokens have been burned, a negligible amount compared to the 589 trillion tokens in circulation.
The cryptocurrency faces additional hurdles, including anonymous leadership, lack of engagement from key figures like Shytoshi Kusama, internal tensions, and unfinished projects. Furthermore, the absence of U.S. ETF filings has limited institutional interest, reducing the likelihood of SHIB reaching its previous all-time high of $0.00008845.
Shiba Inu Struggles to Reclaim All-Time High Amid Market Challenges
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