# Shiba Inu Price Updates: Potential 35% Drop Amid 103,222% Surge in SHIB Burn Rate
## Introduction
Shiba Inu (SHIB) enthusiasts are closely monitoring the recent developments as the token’s price hovers near a critical support level, presenting a potential risk of a 35% decline. Despite experiencing an unprecedented 103,222% surge in the burn rate, SHIB faces challenges from whale selling activities and declining network engagement.
### Shiba Inu Price Analysis
The SHIB price has encountered turbulence in recent days, with market indicators suggesting a precarious situation. The current support level holds significant importance, as breaching it could trigger a considerable downward movement. Analysts are wary of a potential 35% plunge, bringing the token to its lowest level since 2023.
### Impact of Burn Rate Surge
A notable development in the SHIB ecosystem has been the remarkable escalation in the burn rate, surging by an astonishing 103,222%. This surge, however, has not shielded SHIB from the looming price risks, highlighting the intricate dynamics influencing the token’s valuation.
### Whale Selling and Network Activity
The presence of whale selling pressure coupled with diminishing network activity has added to the challenges faced by Shiba Inu. These factors contribute to the heightened volatility and uncertainty surrounding SHIB’s future price trajectory.
## Conclusion
Shiba Inu investors and traders are bracing themselves for potential market fluctuations as the token’s price teeters on a critical level amidst a surge in burn rate. While the recent developments showcase the evolving nature of SHIB’s ecosystem, the looming 35% price risk underscores the importance of vigilance in navigating the cryptocurrency markets. Stay tuned for further updates on Shiba Inu’s price movements.
**Source:** This article is originally published on CoinGape.