Shiba Inu Witnesses Significant Price Decline Amid Market Shifts

Key Points

1. SHIB's price dropped from $0.000013 to $0.000012 between July 31 and August 1, linked to new tariffs announced by former U.S. President Donald Trump.

2. Centralized exchanges saw a rapid increase in SHIB holdings, reaching 84.9 trillion units, with a notable accumulation of 4.66 trillion SHIB valued at $63.7 million.

3. A 602 million SHIB token burn caused a 16,700% spike in the burn rate, potentially impacting price movements.

4. Technical analysis indicated a resistance point rejection at $0.000013, with buying interest at $0.000012 briefly aiding recovery.

5. Experts suggest SHIB's future price trend depends on global economic developments and actions by the SHIB community and major investors.