{"id":12030,"date":"2025-02-08T08:01:45","date_gmt":"2025-02-08T08:01:45","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=12030"},"modified":"2025-02-08T08:01:45","modified_gmt":"2025-02-08T08:01:45","slug":"shiba-inu-burn-rate-crashes-61-trading-volume-falls-below-400-million-why-are-bearish-indicators-piling-up","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=12030","title":{"rendered":"Shiba Inu Burn Rate Crashes 61%, Trading Volume Falls Below $400 Million, Why Are Bearish Indicators Piling Up?"},"content":{"rendered":"
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Shiba Inu (SHIB), the second-largest meme coin by market capitalization, faces severe downside momentum<\/a> as several technical indicators turn bearish. As the market enters a correctional phase due to the decline in Bitcoin, Shiba Inu records a 61% decline in burn rate<\/a> while its trading volume falls below $400 million.\u00a0\u00a0\u00a0\u00a0<\/p>\n

Multiple Shiba Inu Indicators Turn Bearish<\/h2>\n

One of the primary catalysts for the steady growth in Shiba Inu\u2019s value over the years was the aggressive token burn strategy<\/a> implemented by community members and the token\u2019s developers. Since its inception in August 2020, the Shiba Inu ecosystem has burnt a total of 410.7 trillion tokens from its initial supply of 999.9 trillion.\u00a0<\/p>\n

However, recent data<\/a> from Shibburn, a Shiba Inu burn tracker, showed a 61% decline in burn rate in the last 72 hours. While this decline in SHIB burns caught the attention of the broader market, the Shibburn tracker reveals a notable shift, showing<\/a> a 470% increase in burn rate<\/a> in the last 24 hours.\u00a0<\/p>\n

In addition to the previous 61% drop in SHIB\u2019s burn rate, the meme coin\u2019s trading volume has dipped below $400 million to $379 million, according to CoinMarketCap. This decline in trading volume <\/a>signals a reduction in investor interest, which is often a precursor to price declines in the crypto market.\u00a0<\/p>\n

Currently, several factors are contributing to the significant drop in Shiba Inu\u2019s market<\/a> indicators. The broader crypto market has been experiencing heightened volatility after the Bitcoin price crashed below $100,000<\/a>. This price drop affected most cryptocurrencies, with meme coins like SHIB bearing the brunt.\u00a0<\/p>\n

Additionally, the ongoing trade war between United States (US) President Donald Trump and China, Canada, and Mexico has harmed the crypto market. Following the announcement of the trade war<\/a>, the price of Bitcoin fell, followed by other major cryptocurrencies and meme coins.\u00a0<\/p>\n

As of this writing, the Shiba Inu price has plummeted<\/a> to new lows around the $0.000015 mark. This crash in market value is driven by bearish technical indicators, decreased investor confidence, and ongoing market volatility<\/a>. Other technical indicators, excluding burn rate and trading volume, have also taken a hit as SHIB\u2019s Moving Averages (MAs) are currently in the red. At the same time, its Relative Strength Index (RSI), sitting around 31%, indicates<\/a> a neutral level.\u00a0<\/p>\n

On-Chain Data Reveals SHIB Is Mostly Bearish<\/h2>\n

New reports<\/a> from IntoTheBlock reveal that Shiba Inu is currently showing strong bearish signals<\/a>. After experiencing a 30% price crash over the past month, the meme coin has struggled to regain momentum to recover past gains. CoinMarketCap\u2019s data also shows that the cryptocurrency has steadily declined over the past few days, with a nearly 20% drop last week and another 5.5% decrease in the past 24 hours.\u00a0<\/p>\n

Due to its downward trend, ITB has flagged Shiba Inu as \u201cmostly bearish\u201d. The data analytics platform has also revealed that 57% of Shiba Inu holders have experienced a loss<\/a> while only 47% recorded gains. <\/p>\n

\"Shiba<\/div>\n","protected":false},"excerpt":{"rendered":"

Shiba Inu (SHIB), the second-largest meme coin by market capitalization, faces severe downside momentum as several technical indicators turn bearish. As the market enters a correctional phase due to the decline in Bitcoin, Shiba Inu records a 61% decline in burn rate while its trading volume falls below $400 million.\u00a0\u00a0\u00a0\u00a0 Multiple Shiba Inu Indicators Turn […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-12030","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/12030","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12030"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/12030\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12030"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12030"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12030"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}