Shiba Inu Coin (SHIB) Burn Rate Plummets, Whales Manipulate the Market, Can SHIB Make a Comeback in 2025?
First of all, the burn rate refers to the speed at which tokens permanently exit the market, and theoretically, reducing supply should increase demand. However, recent data is concerning.
In the past 24 hours, 506,465 SHIB tokens have been burned, a decrease of 90.69% from before. This significant drop indicates that the burning activity has suddenly slowed down, especially since 10 hours ago, the burn amount had increased by 578%.
However, looking at the weekly data, the burn situation is somewhat different. A total of 65.19 million SHIB tokens were burned in the past week, an increase of 4.5% compared to the previous week. This indicates that, although the burning speed has slowed down in the short term, the community is still making efforts to reduce supply.
In terms of price, SHIB has struggled to maintain the highs of November. Currently, the trading price of Shiba Inu Coin is approximately $0.00002167.
Although it has risen by 1.69% in the past day, overall market sentiment remains gloomy. The Relative Strength Index (RSI) of the token shows strong bearish sentiment.
At the same time, the On-Balance Volume (OBV) indicator also shows stagnant demand, while the decrease in trading volume indicates a decline in retail participation.
