Shiba Inu ‘burns’ are the main and the most important catalyst that drives its price up in the charts which plummeted 99% on Thursday. Only 101,213 SHIB tokens were burned in the last 24 hours which is worth less than $1.2. The steep decline in the numbers is worrisome as without burns, its price will fail to move forward.
Also Read: SHI Launch Could Ignite Shiba Inu’s (SHIB) Next Mega Rally: Here’s How
SHIB is currently trading in the $0.00001163 range on Thursday and remains in the red. The daily, weekly, monthly, and yearly charts are also in the red as Shiba Inu is only plunging in value. If it does not hold on to its resistance level, the dog-themed token stands at the crosshairs of adding an extra zero.
Price Reversal Incoming for Shiba Inu as Burn Rate Plummets?
Shiba Inu is already on the path of a price reversal, regardless of whether the burns are high or low. Even when the third-party app sent millions of SHIB tokens to the dead wallet, its price remained in the red. Burns no longer matter as only a minimal amount of tokens are sent to the dead wallet. Even the highest of burns, which removes millions of tokens from circulation is worth less than $1,000.
Also Read: What’s The Highest Shiba Inu (SHIB) Can Reach In 2025?
SHIB is declining in price not due to the lesser burn volumes but because it failed to attract buying pressure. The hype and buzz for Shiba Inu seem to have fizzled out and all social media sentiments have declined. The dip in banter on social media has made the token go invisible attracting no buying pressure from investors.
The token has come under heavy scrutiny from investors as its price is either moving sideways or declining. Shiba Inu has barely experienced price spurts this year making it among the least-performing cryptocurrencies in 2025. However, long-term holders who want to invest and forget when its price is low can take an entry position now.