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SHIB recovers slightly, but can it recover even more?

Press Releases Crypto News AMB-Crypto SHIB recovers slightly, but can it recover even more?

Shiba Inu saw a slight price correction.
Shibarium to introduce strategic burn mechanism.

Shiba Inu [SHIB] experienced a decline along with the overall market trend, falling for three consecutive days. Nevertheless, its price slightly recovered at press time, and its burn rate had notably improved.

Has the recent announcement of the burn mechanism played a role in this positive development?

Shiba Inu sees slight price uptick

AMBCrypto’s analysis of Shiba Inu’s daily timeframe chart showed its alignment with the broader market trend.

Notably, after following a more than 4% uptrend at the end of the previous week, Shiba Inu entered a period of decline.

Between the 21st and the 23rd of January, SHIB experienced a loss of over 8%, nearly doubling the earlier gain.

The chart showed how close it was to dropping below the long moving average (blue line) while already positioned below the short moving average (yellow line).

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Author: Adewale Olarinde

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