SHIB Price Slides Further Despite Massive 112,000% Spike in Burn Rate

Shiba Inu’s Burn Rate Explodes by 112,000%, But Bears Still Control the Market

Shiba Inu (SHIB) saw a dramatic spike in its burn rate this week, with more than 116 million tokens permanently removed from circulation — a move that typically signals a bullish supply shock. Yet, the token’s price has struggled to respond, trading down 2% on the day and 5% for the week, at $0.00001190 as of Sunday.

According to CoinDesk AI-powered analytics, the daily burn rate soared 112,839%, adding to the more than 527 trillion tokens now nearing profitability. Despite this, SHIB remains in a consolidation phase after facing heavy selling pressure around the $0.0000122 level.

The SHIB ecosystem continues to grow steadily. The project now boasts over 1.5 million wallet addresses, and its Shibarium layer-2 network is processing record transaction volumes. These developments underscore a deepening foundation, even as speculative sentiment cools across memecoin markets.

Technical Breakdown:

A double-bottom chart pattern is in progress, hinting at a possible breakout to $0.000016 — roughly a 20% upside.
The $0.0000122 zone continues to act as firm resistance amid elevated selling volume.
The price action has narrowed into a tight band between $0.00001203 and $0.000012, suggesting indecision and potential for a breakout.
Spikes in trading volume around 07:35 and 07:47 UTC signal short-lived bullish attempts, quickly absorbed by sell-side liquidity.

Despite on-chain strength, SHIB’s price remains tethered to broader market risk-off sentiment, with whales and retail traders awaiting a decisive break before positioning further.