Shiba Inu’s (SHIB) Defensive Schemes for Retrieval

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  • SHIB is near the support level, a dip below can take it back to $ 0.000006603.
  • Over 50 million SHIB were burned in the last 24 hours.

Shiba Inu (SHIB), the meme-coin is in decline over the past month and the Ethereum merge has fueled the descent. Many altcoins are stuck in the dropping and few are taking up remedial steps to overcome. One such attempt by SHIB is the Shibburn mechanism. The token is oscillating near the support level, a dip below can take it back to $ 0.000006603, a year back low.

Shibburn tweets:

The SHIB ecosystem is putting in all efforts to bounce back, daily the SHIB burn numbers are also very much significant. As per the Twitter account, Shibburn, over 50 million SHIB was burned in the last 24 hours.

Shibburn’s Remedial Measures

Recently, Shibburn has also submitted Alexa Skill for the Shibburn Radio app. The application is expected to be compatible with both iOS and Android. Shibburn Radio is designed to play music and hit songs 24/7. And the revenue acquired from the app will be employed for burning Shiba Inu tokens.

Shibburn tweets:

The developers expect the SHIB’s exposure to be more post the radio app launch. The ads and sponsorships will all be put into increasing the token burning. Parallelly, the Shibburn team is also worried about the expenses behind licensing and ownership-related struggles in the music industry.

Looking at the current status of the SHIB token, the price is $0.00001166, and the trading volume is $222.35 M. The market capitalization is over $6 B, with a 0.76% decrease in the last 24 hours.

SHIB Price Chart (Source: CMC)

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