u.today
As top cryptocurrencies and meme tokens continue trading deep in the red amid ongoing market turmoil, the Shiba Inu ($SHIB) burn rate has become a hot topic. Recent activity suggests that the $SHIB team may be slowing down on its regular, large-scale token burns.
According to data from Shibburn, $SHIB’s burn rate jumped 679.55% in the past 24 hours, but saw a significant 82.58% decline over the past week, bringing the total circulating supply to approximately 584 trillion $SHIB tokens.
Only 187,481,567 $SHIB burned over the past week
Despite the recent 24-hour spike, only 187,481,567 $SHIB tokens have been sent to dead wallets in the last seven days. While the reason behind this sharp weekly drop remains unclear, speculation is rising that demand for $SHIB has slowed as bearish forces dominate the broader crypto market.
Given that $SHIB’s performance is largely community-driven, the drop in burn activity could signal a decrease in user engagement or a slowdown in on-chain activity tied to the token’s utility.
HOURLY $SHIB UPDATE$SHIB Price: $0.00001069 (1hr -1.00% ▼ | 24hr -5.16% ▼ )
— Shibburn (@shibburn) April 8, 2025
Market Cap: $6,298,496,601 (-5.37% ▼)
Total Supply: 589,252,281,593,036
TOKENS BURNT
Past 24Hrs: 17,077,480 (39.12% ▲)
Past 7 Days: 187,481,567 (-82.58% ▼)
Interestingly, data from U.Today reports a 784.8% spike in large holder net flows, indicating that whales may still be accumulating $SHIB despite the downturn.
However, this bullish indicator hasn’t been enough to offset the token’s slide. As of press time, $SHIB has declined by 7.06% in the past 24 hours, trading at $0.00001063.
Even as the $SHIB ecosystem continues to see development, market-wide bearish sentiment appears to be suppressing the token’s performance, making it hard to attribute the decline to internal factors alone.
In addition to the slumping burn rate and price, $SHIB’s profitability metrics have also taken a hit. As reported by U.Today, only 5% of $SHIB holders are currently in profit, highlighting the token’s ongoing struggles.
This downturn is stoking fears among investors, many of whom now question $SHIB’s near-term potential. As confidence wanes, the risk of further downward pressure on the meme token continues to grow.