Shiba Inu is trading at $0.00001282, maintaining critical support amid a 5.49% 24-hour drop.
Analyst Ali Martinez suggests SHIB could move from the support at $0.000013 to a possible spike to $0.000020.
The burn rate of Shiba Inu has increased by 3,252%, and over 29.32 million SHIB tokens have burnt in 24 hours, boosting the market optimism.
The global market cap and 24-hour trading volume have dropped to $2.83 trillion and $110 billion, respectively, indicating a fear sentiment in the market.