Krutika Adani
Shiba Inu has retained the price level of $0.000013 despite a deeper correction in the memecoin markets.
As compared to Dogecoin’s 4.57% intraday correction at press time, Shiba Inu has only corrected 3.45% for the same period.
The high burn rate, the new DAO launch and the developments in Shibarium have lifted Shiba Inu’s price.
After Shiba Inu futures were listed on Kraken, the memecoin saw a 140,000% surge in its burn rate. A high burn rate indicates increasing network activity in Shiba Inu.
Shiba Inu must cross $0.00002218 before re-entering a rally mode. On the downside, $0.00001269 remains a strong support zone.