- Burn Rate Plunges: SHIB’s burn rate dropped nearly 80% in 24 hours, raising concerns about weakening community engagement and deflationary momentum.
- Price Slips, Sentiment Dips: SHIB is trading around $0.0000144, down ~40% from its yearly high, with muted investor sentiment.
- Bullish Target Ahead: Analysts still eye a potential surge to $0.000035, citing strong accumulation in a key historical support zone.
In a surprising twist, Shiba Inu’s (SHIB) burn rate just nosedived — and not by a little. We’re talking about a nearly 80% drop in just 24 hours. That’s a sharp hit to what many saw as the backbone of SHIB’s long-term strategy: burn tokens, reduce supply, raise value. So yeah, people are raising eyebrows.
Burn Rate Takes a Nosedive
According to Shibburn, only 8.25 million SHIB were burned in the last day. Just the day before? Over 49 million. That’s a serious slide. Considering Shiba Inu’s deflationary narrative leans heavily on these burns — where coins get sent to dead wallets and vanish from circulation — a drop like this is kinda a big deal.
Unlike some other crypto projects that bake token burns into their protocol, SHIB’s burn system is mostly driven by the community. That means the dip might be reflecting a shift in sentiment — and not a great one.
Price Slips, Sentiment Fades
Alongside the burn slump, SHIB’s price has also been slipping. At the time of writing, it’s trading around $0.0000144, which is about 39.8% down from its yearly high. Not ideal.
Sure, the SHIB community’s still around, and analysts are staying somewhat hopeful. But the vibes? Kinda muted. CoinCodex even noted that current sentiment feels more like “meh” than “moon.”
To date, over 410.7 trillion SHIB tokens have been burned. That still leaves roughly 589.2 trillion in circulation from the original 999.9 trillion — so yeah, there’s plenty left.
Hope’s Not Dead Yet: $0.000035 Target?
Despite all the recent letdowns, some market watchers aren’t giving up. A price prediction from Crypto Catalysts on X says SHIB could still shoot up to $0.000035. That’s a 147% jump from where it is now.
The reasoning? Apparently, SHIB’s been forming a base between $0.000007 and $0.000014 — a zone that’s acted like a launchpad during past bull runs in 2021 and 2023. If history repeats, we might see another breakout.
Bottom line? SHIB’s not out of the game, but with a crashing burn rate and sluggish price action, it’s got some work to do. Keep an eye on that $0.000014 zone — it might tell us where we’re headed next.
