Shiba Inu lost 5% in value, Bitcoin is below the 200-day average.

Pressure on Shiba Inu and Bitcoin Markets

Shiba Inu has raised concern among investors, experiencing a decline of more than 5% in the last 24 hours. This drop was triggered by a broader market decline alongside Bitcoin falling below its 200-day simple moving average.

Despite an increase in token burn activities, Shiba Inu is still facing significant selling pressure. Large investors, known as 'whales', are moving their tokens to major exchange accounts, increasing the selling pressure.