- ShibaInu burn rate plunged 95%, raising concerns as only 964,247 tokens were burned in 24 hours.
- Despite the drop, SHIB’s price is nearing a potential breakout, with traders eyeing key resistance levels for a bullish move.
In an unexpected turn, Shiba Inu’s burn rate has taken a nosedive, crashing a staggering 95% in the past 24 hours. According to Shibburn, only 964,247 SHIB tokens were burned during the period — one of the lowest daily totals seen in recent memory. This sudden slowdown comes as the SHIB price inches toward a potentially explosive breakout, creating mixed signals for the community.
SHIB burn events have historically been a cornerstone of its deflationary roadmap. These community-led efforts typically remove millions, sometimes even billions, of tokens from circulation to bolster long-term value. The sharp decline has sparked speculation: Is SHIB losing steam, or is this just a temporary dip?
ShibaInu Price Inches Closer to Breakout Despite Burn Slump
Interestingly, Shiba Inu price action remains surprisingly resilient. Despite the reduced burn activity, SHIB has gained nearly 6.81% over the past week, even though it slipped 1.20% in the last 24 hours to trade at $0.00001279.
Traders are eyeing the 50-day Simple Moving Average (SMA) — also around $0.00001279 — as a potential launchpad. A confirmed move above this level could open the door for a bullish breakout, with near-term targets at $0.0000156 and $0.000019 (the 200-day SMA).
However, any significant push higher will depend heavily on trading volume. If bulls fail to sustain momentum, SHIB may find itself revisiting support near $0.00001 before trying again.
What’s Next for SHIB? Price Momentum vs. Burn Sentiment
The diverging paths of SHIB’s burn activity and its price are creating a complex scenario. While price movement remains bullish, the drop in burns could gradually weaken long-term investor confidence if not reversed soon.
Can SHIB Defy the Burn Dip?
Shiba Inu’s dramatic burn rate plunge has arrived at a critical moment. With resistance levels just overhead, the coming days could define SHIB’s near-term trajectory. Will bullish momentum overpower burn concerns, or will fading community activity pull SHIB back? The next move could be decisive.
