![image.png](https://i.imgur.com/pirNYHG.png)
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Shiba Inu finds itself at a crossroads as it faces headwinds from strong resistance and a broader market correction with a declining network activity. Until recently, the token had benefited from a high burn rate and a surge in network activity, which contributed to its improved market performance. However, as these factors start to worn, the future trajectory of Shiba Inu hangs in the balance and the bulls seems weak in moving the price further up.

The token's inability to finalize a breakthrough above the 200-day exponential moving average (EMA) has left investors uncertain about its next move. Shiba Inu now stands at a crucial juncture, where it could either establish support above this critical resistance level or succumb to downward pressure, potentially ending its month long local uptrend.

The high burn rate and robust network activity previously played a significant role in bolstering Shiba Inu's performance on the market. As more tokens were removed from circulation, the supply and demand dynamics shifted in favor of the cryptocurrency, leading to price appreciation. However, with the recent dip in network activity, the token's burn rate has also been negatively affected, consequently impacting its market position.

Despite these challenges, it is essential to note that Shiba Inu has demonstrated remarkable resilience and adaptability in the past. The community-driven project has expanded its scope beyond being a mere meme token, delving into the realms of decentralized finance (DeFi) and non-fungible tokens (NFTs).

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