Shiba Inu Burn Rate Plummets 95% as SHIB Price Eyes Breakout

Shiba Inu (SHIB), the popular dog-themed meme coin, saw a massive drop in its burn rate over the last 24 hours. According to data from Shibburn, just 964,247 SHIB tokens were destroyed—marking a sharp 95% decrease and one of the lowest daily burn volumes recorded in recent history. This is a stark contrast to previous days when millions, sometimes billions, of SHIB tokens were regularly burned as part of community-led supply reduction initiatives.

The sudden slowdown has raised eyebrows among investors and holders, although no specific reason has been confirmed. Some speculate the decline may be linked to broader market consolidation or a shift in investor behavior, with more holders opting to HODL in hopes of a price rally instead of burning tokens.

Despite the burn slump, SHIB's price remains resilient. At press time, Shiba Inu was trading at $0.00001236, up 0.81% daily and nearly 14% over the past week. The token is approaching a key resistance at the 50-day Simple Moving Average (SMA), currently at $0.00001279. A confirmed breakout above this level, especially with rising volume, could open the door for a rally toward $0.0000156 and possibly the 200-day SMA near $0.000019.

While sentiment remains cautious, support is seen around the $0.00001 mark in case of downside pressure. Even small daily burns, when combined with other ecosystem developments, continue to contribute to SHIB’s long-term deflationary strategy.