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Shiba Inu Price Sits At Inflection Point As SHIB Burns Pick Up Again

While the focus in the crypto market is currently on Bitcoin, the Shiba Inu price is once again at an important inflection point. After the price experienced another setback yesterday due to the plagiarism allegations surrounding the layer-2 technology Shibarium, SHIB bulls are currently struggling to sustain a breakout from the downtrend that has been in place since mid-February.

At press time, the SHIB price was at $0.00001090, just above key resistance at $0.00001086. The 4-hour chart of Shiba Inu shows the downtrend SHIB has recently experienced.

On Monday, the Shiba Inu price managed to break out of the descending trend channel and break through the aforementioned resistance. However, the price rally came to an abrupt end at the $0.00001185 resistance mark.

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