- SHIB burn rate collapsed by 94–95%, with daily burns nearly flat.
- Price bounced 3.25% after a 12% crash but slipped again to $0.00001210.
- Momentum remains tied to Bitcoin’s moves, while weak burn activity clouds the outlook.
The Shiba Inu community just hit a snag. Data from Shibburn shows the SHIB burn rate, which has been one of the token’s long-term bullish talking points, plunged by nearly 100% in the past week. That’s right—almost wiped out. For a meme coin that’s thrived on community hype, it’s a big shift, though not the whole story.
According to the tracker, weekly burn activity collapsed by about 94%, with only 9.43 million SHIB removed from circulation. That might sound like a lot, but for context, past weeks saw much higher figures. Daily burns looked even weaker, down a staggering 95%, leaving just under 170,000 SHIB destroyed in 24 hours. In burn terms, that’s basically a flatline.
SHIB Price Bounces After 12% Crash
But not everything’s doom and gloom. SHIB’s price, which nosedived more than 12% over the weekend, managed to claw back some ground. The token bounced 3.25% in the last day, lifting spirits slightly before slipping again by about 1%. At press time, it’s sitting at $0.00001210—a small recovery, but at least not another red waterfall.
Bitcoin’s Shadow Still Looms
The problem is, SHIB’s chart has been tracking Bitcoin’s moves almost candle for candle. When BTC stumbled below key levels earlier this week, SHIB followed right along with a string of red hourly candles. For bulls, the rebound shows there’s still some buying interest alive, but without stronger burn momentum, that narrative looks shaky.
Outlook: Community Needs to Step Up
For now, the community’s challenge is clear: reignite the burn machine or risk losing one of SHIB’s most hyped value props. The price reaction shows traders aren’t done with the meme coin just yet, but the pressure is mounting.
