Usman Salis
Shiba Inu (SHIB) just pulled off something nobody expected: zero tokens burned in 24 hours, and crypto folks are starting to worry about what this means for the meme coin's future.
So here's the deal – Shiba Inu (SHIB) just made history, but not in the way anyone was hoping for. The meme coin that usually burns tokens to keep its price healthy didn't torch a single one over the past 24 hours. We're talking about a complete 100% drop in burn rate, which is pretty much unheard of. And honestly? The timing couldn't be worse, especially with SHIB already struggling to find its footing in this choppy market.
Why SHIB's (Shiba Inu) Burn Rate Going to Zero is Actually a Big Deal
Look, here's how this whole thing works: Shibburn showed absolutely nothing – zip, zero, nada – being sent to those dead wallets where tokens go to die. This isn't just some random stat either. These burns are supposed to be SHIB's secret weapon against inflation, basically removing coins from circulation to make the remaining ones more valuable.
What makes this even more frustrating is that just a few days ago, Lucie (she's the marketing brain behind SHIB) was literally asking people to step up the burning game on Shibarium. But instead of ramping up, everything just... stopped. Meanwhile, SHIB keeps bumping its head against that stubborn $0.0000130 resistance level it's been fighting for a whole week now. Without any burns happening, there's nothing stopping the price from sliding further down.
Shiba Inu (SHIB) Price is Getting Hammered Right Now
Here's where things stand: SHIB is trading at $0.00001174 as we speak, down 3.26% in just the last day. The coin has already dropped more than 8% since June started, and it's looking like there's more pain ahead. The scary part? It's getting dangerously close to that $0.000011 support level, and if that breaks, we could see some serious panic selling.
But here's the weird part – while the price is tanking, trading volume actually jumped 43.92% to hit $154 million. That tells us people are definitely paying attention and making moves, but unfortunately, most of those moves seem to be selling rather than buying.
The Whale Problem That's Making Everything Worse
As if the zero burns weren't bad enough, SHIB's big players are heading for the exits too. Recent data shows that whale activity has been dropping off a cliff, with these major holders apparently dumping their bags. When you combine that with the complete lack of token burning, you've got a perfect storm that could keep SHIB in the red for quite a while.
The bottom line? For SHIB to turn this ship around, two things need to happen fast: the burn mechanism needs to get back online, and investors need to start believing in the project again. Right now, both of those things are looking pretty shaky, which doesn't exactly inspire confidence for anyone holding SHIB bags.
Usman Salis
