Burn Activity Surges but Price Remains Under Pressure
Shiba Inu is showing signs of struggle as bulls try to defend a crucial price point. In the past 24 hours, the community burned 4.36 million SHIB tokens, pushing deflationary efforts to new highs. Despite this, the price slipped to $0.00000857. Traders remain cautious, watching whether the token can reclaim the $0.00001 psychological level. Volume ticked up, indicating active participation, but selling pressure still weighs on momentum.
SHIB’s burn rate jumped over 910% in a single day. Community members sent millions of tokens to dead wallets, aiming to reduce circulating supply. Such moves are designed to create scarcity and support price stability over time. At present, the total supply has dropped to 589.24 trillion, with 585.40 trillion SHIB actively circulating. An additional 3.83 trillion tokens remain staked or locked, further limiting available supply.
Despite these efforts, the recent burns failed to trigger a meaningful price rally. SHIB traded between $0.000058491 and $0.000059009 in the last 24 hours. Short-term traders appear to be taking profits rather than pushing prices higher. The broader meme coin sector is experiencing similar pressure, which has affected SHIB’s momentum. Exchange flows show steady selling, hinting that market sentiment plays a bigger role than token burns alone.
The Shiba Inu community has long relied on deflationary measures to create scarcity. Supporters believe persistent burns, combined with staking, will gradually drive prices higher. These initiatives demonstrate commitment and encourage long-term holding. However, macro market conditions and trader sentiment continue to dominate short-term price action, creating resistance at key levels.
Key Levels and Market Sentiment in Focus
The $0.00001 level represents an important psychological barrier. Bulls need to maintain control above this zone to prevent further losses. Healthy trading volume, which reached $179.96 million, signals strong participation. Buyers remain engaged, but the token’s inability to break resistance suggests cautious optimism. Short-term price movements show that burns alone cannot overcome market-wide trends.
Traders and investors continue monitoring supply dynamics, staking programs, and deflationary mechanisms. As SHIB approaches key levels, a combination of community activity, market sentiment, and macro factors will determine whether bulls regain control or sellers dominate. Overall, Shiba Inu’s deflationary efforts remain significant. Burning millions of tokens reinforces long-term scarcity and adds support to the ecosystem.
Yet, price weakness below $0.00001 highlights that market conditions and trader psychology still dictate momentum. Community efforts, staking, and burns can complement bullish trends, but participants should watch key resistance levels closely before expecting sustainable gains.