\n\t\t\t\t\t\t\t\t\tCheck out why SHIB’s price could rebound in the short term.\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
The second-largest meme coin by market capitalization has posted a substantial price decline of more than 10% over the past week.<\/p>\n
However, the renewed spike in the Shiba Inu burn rate hints that a relief rally might be on the way.<\/p>\n
SHIB Goes up in Flames<\/h2>\n
Shibburn \u2013 the X account showing the burn efforts of the Shiba Inu team and community \u2013 revealed<\/a> that the rate has skyrocketed by over 2,000,000% on a daily scale. The exact number of scorched tokens exceeds 2.2 million.<\/p>\n The USD equivalent of this is insignificant, but continuous efforts in that field can make the meme coin scarcer and more valuable. The team adopted the burning mechanism three years ago, and since then, a total of 410.75 trillion tokens have been sent to a null address, leaving 585.26 trillion coins in circulation.<\/p>\n Another factor that may be interpreted as bullish for Shiba Inu\u2019s price is the recent exchange netflow. CryptoQuant\u2019s data shows that outflows have surpassed inflows over the last week, indicating that investors have abandoned centralized platforms and shifted to self-custody.<\/p>\n Earlier today, the total amount of SHIB held on exchanges fell to approximately 80.5 trillion, the lowest level since April 2021. Such a development typically results in reduced immediate selling pressure.<\/p>\n SHIB currently trades at around $0.000008659 (per CoinGecko), representing an 11% weekly plunge and a valuation far below the local high seen towards the end of 2024.<\/p>\n Some analysts believe a substantial revival may depend heavily on the advancement of Shiba Inu\u2019s layer-2 blockchain solution \u2013 Shibarium. One such person is the Bitcoin advocate Jeremie Davinci, who said<\/a> earlier this year:<\/p>\n \u201cI think Shiba Inu has a lot of utility now that they have Shibarium, and basically, it\u2019s a chain that you can actually run all kinds of applications. However, nobody is using it, and there are no applications for using your tokens on Shibarium yet. If they get that solved, Shiba Inu will go to the moon.\u201d<\/p>\n<\/blockquote>\n Shibarium had its glory moments throughout 2025, when the network processed daily transactions in the millions. However, the protocol\u2019s security was breached<\/a> in September, and since then, the figure has plummeted, reflecting reduced usage and waning ecosystem activity.<\/p>\n<\/a>
<\/a>
The Bearish Signal<\/h2>\n
You may also like:<\/h3>\n
\n
<\/a>
\nSECRET PARTNERSHIP BONUS for CryptoPotato readers: Use this link<\/a> to register and unlock $1,500 in exclusive BingX Exchange rewards (limited time offer).<\/b><\/div>\n<\/div>\n