Shiba Inu (SHIB) has experienced a sharp 82% decline in its token burn rate, barely a day after the figure soared by over 10,000%. According to the latest data from Shibburn a platform that tracks SHIB burning activity only 1,556,906 SHIB tokens were sent to dead wallets within the last 24 hours. This decline marks a major slowdown in the community’s deflationary effort, which aims to stabilize SHIB’s price and potentially drive it upward.
Despite the drop in burn rate, the Shiba Inu community continues to remove tokens from circulation. This internal strategy relies on basic supply-and-demand economics. By consistently burning tokens and reducing the total supply, the ecosystem hopes to increase price levels especially if demand rises concurrently. Although the number of burned tokens dropped significantly, the long-term goal of value appreciation remains intact.
Price Shows Strength Near Resistance
Interestingly, SHIB’s price has reacted positively despite the drastic decline in burn rate. In the last 24 hours, Shiba Inu climbed 2.32%, trading at $0.00001180 at press time. The token reached a 24-hour high of $0.00001195, indicating it may be testing the significant $0.000012 resistance level.
SHIB price chart Source: CoinMarketCap
If buying pressure continues, SHIB could break through this barrier and reach higher price levels. Shiba Inu’s trading volume surged 90.53% to $130.7 million, a bullish sign that supports the recent price rebound.
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The green zone activity suggests heightened investor interest and growing market engagement. This volume increase could provide the necessary fuel to push SHIB above its current resistance level.
Retail Investors Show Renewed Interest
Meanwhile, microtransaction activity often used to gauge retail accumulation has spiked between 195% and 200% over the past week. This sharp increase indicates that small-scale investors may be accumulating SHIB in anticipation of further price gains. As a result, retail sentiment appears increasingly bullish.
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Looking ahead, SHIB’s price trajectory may depend heavily on broader market sentiment, especially Bitcoin’s performance. If Bitcoin maintains upward momentum, SHIB could follow suit and test even higher resistance levels in the days ahead.
