The Shiba Inu (SHIB) community is currently expressing slow market engagement as the burn rate for the meme coin drops sharply. This drop in SHIB’s burn rates comes amid fears that the coin may add another zero to the price. While the dog-themed meme coin has now recovered from the turmoil experienced across the crypto market on June 22, the ongoing drop in burn rate adds bearish pressure to price. 

A surge in burn rate is crucial for Shiba Inu as it reduces tokens supply. However, with that not being the case, the price of SHIB stands at risk. The token has been generally on a bearish trend in recent times and a price drop could deplete investor confidence. 

Shiba Inu’s Burn Rate Plunges by 99%

Over the last 24 hours, the SHIB community has only managed to remove a total of 101,213 SHIB from the circulating supply. The number of tokens torched over this period means a 99.32% dip in burn rate. It further indicates that over this period, there has been a slow participation in incineration by market participants. 

As shared by Shibburn – a platform that tracks Shiba Inu’s burn rate – on X, the incineration of the meme coin has also dropped by 94.28% over the last 7 days. Only 62,368,151 tokens have been burnt in this period. This further adds to the grim picture of things across the Shiba Inu ecosystem. 

HOURLY SHIB UPDATE$SHIB Price: $0.00001162 (1hr -0.47% ▼ | 24hr 0.04% ▲ )
Market Cap: $6,848,666,636 (0.23% ▲)
Total Supply: 589,249,849,217,081

TOKENS BURNT
Past 24Hrs: 101,213 (-99.32% ▼)
Past 7 Days: 62,368,151 (-94.28% ▼)

— Shibburn (@shibburn) June 26, 2025

Token burn in the SHIB ecosystem is vital as coupled with strong demand, the reduced supply fuels a surge in the price. While 410.7 trillion tokens have been removed from initial supply as at press time, the community needs to participate more in burning to reduce the supply significantly. 

According to data by Shibburn, the total supply of Shiba Inu is 589.2 SHIB. Out of these, 584.5 trillion tokens are in circulation. The remaining 4.7 trillion tokens are staked in the ecosystem. A reduction in the number of tokens in circulation could open the door for a SHIB price uptick. 

SHIB Struggles to Reclaim Momentum as Bearish Pressure Persists

On the daily chart, the Bollinger Bands of the Shiba Inu (SHIB) show a long-term bearish trend. The price action has stayed below the 20-day moving average (middle band) throughout June. Additionally, the bands have been growing wider, which indicates the growing volatility that was caused by the persistent downward momentum. 

However, the price of SHIB rebounded around the lower band sitting at 0.00001058. This level may be considered as a potential oversold response and short-term support level. SHIB is trading at a price of $0.00001152 at the moment, close to the mid-band price at $0.00001195.

While this indicates that bearish pressure persists, the recent bounce and consolidation between the upper and middle bands are signs of stabilization. In case bulls succeed in moving the price beyond the middle band, this can be an indication of a move towards recovery or at least a sideways movement. 

But, the upper band at $0.00001333 is a significant resistance point. Any upward price action would possibly be capped, unless SHIB moves up above the mid-band with significant volume. In the short-term SHIB’s overall structure calls for cautious action as the price is still susceptible to a drop. This could occur if selling pressure persists and burn rate continues to drop.