{"id":30907,"date":"2025-06-09T10:46:48","date_gmt":"2025-06-09T10:46:48","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=30907"},"modified":"2025-06-09T10:46:48","modified_gmt":"2025-06-09T10:46:48","slug":"shiba-inus-downtrend-intact-as-daily-burn-rate-tanks-by-63","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=30907","title":{"rendered":"Shiba Inu&#8217;s Downtrend Intact as Daily Burn Rate Tanks by 63%"},"content":{"rendered":"<div>\n<p>Shiba inu (SHIB) remains locked in a downtrend despite recovering from overnight lows, as the sharp drop in the &#8220;daily burn&#8221; rate has dented deflation prospects.<\/p>\n<p>The token has recovered to trade near $0.000012650 at the time of writing, having reached a low of $0.00001234 during the Asian hours. Still, the downtrend identified by trendlines connecting May 12 and May 23 highs and the low reached on May 17 remains intact.<\/p>\n<p>SHIB&#8217;s daily burn rate dropped by 63%, threatening to derail the progress toward deflationary tokenomics, while trading volume surged by 78%. The daily burn rate refers to the number of SHIB tokens permanently destroyed or removed from circulation each day.<\/p>\n<p>Token burns are widely used to introduce a deflationary appeal to cryptocurrencies. A deflationary token is\u00a0a cryptocurrency whose supply is designed to decrease over time, typically through mechanisms like token burning.<\/p>\n<p>So, the slower burn rate presents a headwind for SHIB. Still, on-chain data signaled $0.000012 and $0.000013 as potential support zones.<\/p>\n<h2>Key on-chain and technical insights<\/h2>\n<ul>\n<li>Despite the bearish trend, on-chain data reveals a significant concentration of tokens held by investors with a cost basis between $0.000012 and $0.000013, suggesting this may become a heavily defended price zone where trading volumes could spike dramatically.<\/li>\n<li>Over the past 24 hours, support emerged at around the 0.00001236 level, with strong buying volume, suggesting accumulation at lower levels.<\/li>\n<li>Volume spiked dramatically at 08:02 with over 14.9 billion in trading activity, confirming the bullish momentum that pushed prices to session highs.<\/li>\n<li>Price stabilization in the final hours indicates potential consolidation before the next directional move.<\/li>\n<\/ul>\n<p><img decoding=\"async\" src=\"https:\/\/cdn.sanity.io\/images\/s3y3vcno\/production\/410ef3731ecaceea5e729d5f83521d28b1736f9a-2848x1352.png?auto=format\" alt=\"SHIB remains in a downtrend below the 100-day SMA. (TradingView)\" title=\"SHIB remains in a downtrend below the 100-day SMA. (TradingView)\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Shiba inu (SHIB) remains locked in a downtrend despite recovering from overnight lows, as the sharp drop in the &#8220;daily burn&#8221; rate has dented deflation prospects. The token has recovered to trade near $0.000012650 at the time of writing, having reached a low of $0.00001234 during the Asian hours. Still, the downtrend identified by trendlines [&hellip;]<\/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-30907","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\/30907","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=30907"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/30907\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=30907"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=30907"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=30907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}