Shiba Inu Coin (SHIB) Burning Rate Plummets, Whales Manipulating the Market, Can SHIB Make a Comeback in 2025?
Firstly, the burning rate refers to the speed at which tokens permanently exit the market, theoretically reducing supply should increase demand. However, recent data is concerning.
In the past 24 hours, 506,465 SHIB tokens have been burned, a decrease of 90.69% from before. This significant drop indicates a sudden slowdown in burning activity, especially as just 10 hours ago, the amount burned had increased by 578%.
However, from a weekly perspective, the burning situation appears different. A total of 65.19 million SHIB were burned in the past week, an increase of 4.5% from the previous week. This indicates that, although the burning speed has slowed in the short term, the community is still working hard to reduce supply.
In terms of price, SHIB has been struggling to maintain the highs of November. Currently, the trading price of Shiba Inu Coin is approximately $0.00002167.
While it has risen by 1.69% in the past day, overall market sentiment remains bleak. The Relative Strength Index (RSI) for the token shows strong bearish sentiment.
At the same time, the On-Balance Volume (OBV) indicator also shows stagnant demand, while the decrease in trading volume indicates a decline in retail participation.
