Shiba Inu (SHIB) Price Drops By 20%, Lowest In 7 Months
- Shiba Inu’s price fell by over 20% on Monday, reaching its lowest level since October 2021.
- The Shiba Inu team launched a SHIB burning portal on April 25 that rewards users for burning the coin and reducing its circulating supply.
- Prior to the launch of the burning portal, Shiba Inu’s price had been growing steadily following the announcement of its listing on the Robinhood platform.
- However, the growth trajectory was not sustained after the portal’s launch, and Shiba Inu’s price has continued to follow the downtrend of the wider cryptocurrency market.
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