There was no activity on the Shiba Inu burn portal. Overall, though, SHIB burns surged by more than 400%.

SHIB has been unable to break through key resistance levels.

At press time, the coin is still in a downtrend.

Since Shiba Inu [SHIB] launched its Shibarium Burn Portal, there has been no significant increase in the number of SHIB burns recorded through the platform.

However, SHIB destruction is still being carried out through other channels, and the overall destruction rate has surged recently. But despite this, the price of SHIB is still below the critical level.

Shiba Inu Yakimon Stall

A few weeks ago, Shiba Inu announced the launch of Shib Torch, a portal designed for SHIB burning. According to reports, more than 3.2 million SHIB tokens have been burned during the initial launch.

However, since then, activity on the Shib Torch portal has stagnated, with no additional burnings recorded.

This stagnation has caused the Shiba Inu community to question the functionality of the portal.

Concerns have arisen as to whether the portal is accurately tracking SHIB burns, or whether any burns are being carried out through the portal.

Shiba Inu burns continue

Analysis of Shibburn data indicates that Shiba token burning is continuing, which contradicts the inactivity observed on the Shib Torch portal.

This suggests that the new portal is not being utilized yet or is not accurately reflecting the burns that are occurring.

Data from Shibburn shows that SHIB destruction has increased significantly, with the destruction rate surging by more than 400% in the past 24 hours. During this period, more than 14.2 million SHIB tokens have been destroyed.

Over 312.6 million SHIB tokens have been destroyed in the past seven days, an 80% increase in the destruction rate.

This suggests that despite questions surrounding the Shib Torch portal, overall Shiba Inu token burn activity remains strong.

However, the disconnect between the portal and actual burn data raises concerns about the functionality of the portal and its ability to provide real-time tracking of SHIB burns.

An increase in the burn rate is a positive sign for reducing the token supply.

SHIB remains below critical level

Since June, Shiba Inu [SHIB] has been trading below its long-term moving average (yellow line), which has served as a strong resistance level. In addition, SHIB has been fluctuating between gains and losses over the past few days.


On September 4, SHIB gained nearly 4%, only to fall more than 3% in the following trading day. As of this writing, SHIB is trading at around $0.00001318, continuing its volatile pattern. On September 4, SHIB gained nearly 4%, only to fall more than 3% in the following trading day. As of this writing, SHIB is trading at around $0.00001318, continuing its volatile pattern.

The long-term moving averages also act as trendlines, highlighting the ongoing downtrend in SHIB. The inability of the price to break above this resistance level suggests continued bearish momentum.