Shiba Inu (SHIB) is declining by 2.0% to $0.00000815 this week despite high rates of token burn of 297.6 million for Monday alone. Burning tokens usually led to higher prices. But in case of this mem coin prices are going down. This is a clear sign of its weakness, and obviously a reason to worry about investments in the project.
The nearest support is down by 6.0% at $0.0000075. SHIB could easily reach it, but it is unclear whether its prices could go further down. Some news like collaboration with the famous Italian Napoli football club could support the project and token prices. It also demonstrates the activity of the project.