The 'burning' of Shiba Inu is the main catalyst driving its price up, but on Thursday, the price of this token plummeted by 99%. In the past 24 hours, only 101,213 SHIB tokens were burned, worth less than $1.2. The sharp decline in the amount burned is concerning, as without destruction, its price will not be able to continue rising.
The trading price of SHIB on Thursday is currently in the range of $0.00001163 and continues to decline. Due to the ongoing drop in the price of Shiba Inu, its daily, weekly, monthly, and yearly charts are also showing a downward trend. If the resistance level cannot be maintained, this dog-themed token will face the risk of a price increase to zero.
With the burning rate plummeting, is the price of Shiba Inu about to reverse?
Regardless of the amount destroyed, the price of Shiba Inu is on a reversal path. Even though millions of SHIB tokens have been sent to dead wallets by third-party applications, its price remains in a state of loss. Destruction is no longer important, as only a very small amount of tokens have been sent to dead wallets. Even with the highest levels of destruction, millions of tokens disappearing from circulation are worth less than $1,000.
The decline in SHIB's price is not due to a decrease in the amount destroyed, but rather because it has failed to attract buying pressure from investors. The hype and popularity of Dogecoin seem to have faded, and the sentiment on social media has similarly dropped. Reduced discussion on social media has made this token neglected, failing to attract investor buying pressure.
Due to the price either consolidating or continually declining, this token has come under strict scrutiny from investors. Shiba Inu has seen almost no price surges this year, making it one of the worst-performing cryptocurrencies for 2025. However, long-term holders who want to invest and forget about the price slump can now enter.
