Shiba Inu’s burn program ground to a halt over the past 24 hours, with just 552 SHIB sent to dead wallets — effectively a 0% burn rate, according to Shibburn. That’s a dramatic reversal after a 3,620% spike the previous day when more than seven million tokens were incinerated, and it’s unfolding as the broader crypto market turns cautious heading into year-end. Key figures and market moves - 24-hour burns: 552 SHIB (0% burn rate), per Shibburn. - 7-day burns: 2,150,328 SHIB — a 96.96% decline from the prior period. - SHIB price: down about 4.55% to $0.000007344 at the time of writing; the token fell from a Dec. 13 intraday high near $0.00000845 to roughly $0.00000731 by Thursday, marking a fifth straight day of losses. What’s driving the slide The collapse in burn activity coincides with broader market weakness and thin trading volumes for meme coins. New macro data added to the pressure: the Bureau of Labor Statistics’ delayed November CPI report showed annual inflation at 2.7%, feeding risk-off sentiment across digital assets. Even a potentially bullish catalyst — Coinbase’s Dec. 15 launch of Shiba Inu perpetual futures — was unable to lift SHIB as market-wide selling dominated. Why the burn matters Token burns are part of Shiba Inu’s intended deflationary mechanics, and a sudden pause is notable because the community has long pushed for aggressive burns to chip away at the massive circulating supply (about 589 trillion SHIB). Lead developer Shytoshi Kusama has previously argued that mainstream adoption is the real solution for Shiba’s future and suggested that an enormous reduction in supply — theoretically on the order of 99% — would be required to supplant real-world utility. Outlook The combination of near-zero burn activity, persistent price weakness, low liquidity and macro uncertainty makes for a challenging backdrop. Historically, stretches of market exhaustion sometimes precede reversals once panic-selling fades, but whether this lull is just end-of-year positioning or the start of a more persistent slowdown into 2025 remains unclear. Traders appear to be taking a wait-and-see approach as the market digests inflation data and the year wraps up. Read more AI-generated news on: undefined/news

#SHIB