The slowdown in Shiba Inu’s token burning rate shows no signs of letting up. According to data from the Shibburn platform, just 2.69 million SHIB tokens were removed from circulation over the last 24 hours, worth approximately 13 dollars. Daily burn volumes plunged 74 percent within this time frame, grabbing the attention of both investors and analysts in the crypto market.
Weekly burn totals under pressure
Looking at the broader trend, burn activity faded sharply after June 20. On that date, 8,795,791 SHIB were burned—significantly more than present levels. The total burn for the past seven days stands at 37.69 million SHIB, but even this marks a 19.11 percent decrease from the previous week.
Shibburn remains the main data provider for tracking burn transactions in the Shiba Inu ecosystem. The burning process operates by sending a portion of the token supply to inaccessible “dead” wallets, effectively removing them from circulation and aiming to create scarcity.
According to Shibburn’s latest report, just 2.69 million SHIB were burned in the past day while daily burn rates sank by 74 percent.
Accelerating sales impact SHIB price
The steep fall in burn rates coincided with a wave of sell-offs across cryptocurrencies last week. Shiba Inu’s price declined for six consecutive days, eroding nearly all gains achieved during its mid-June rally.
Heavy selling pushed SHIB down to $0.00000464, but early-morning buying on the first trading day of the week managed to lift the price to an intraday peak of $0.00000472. That partial recovery alleviated a significant portion of losses from the previous day.
Citing figures presented in this report, SHIB dropped 0.33 percent in the last 24 hours to trade at $0.00000466. The token’s weekly loss reached 6.44 percent, suggesting prices are consolidating within a narrow band without clear direction.
Markets focus on key Fed inflation data
Traders are now eyeing Thursday’s release of the May Personal Consumption Expenditures (PCE) Price Index—a critical inflation gauge watched closely by the US Federal Reserve. This metric is set to guide market sentiment and possible Fed decisions in the weeks ahead.
Last week’s Fed meeting, marked by a hawkish tone, pushed back expectations for the next interest rate hike to October. Investors are especially alert to whether the newest inflation data could offer fresh signals on the timing and scale of monetary policy moves.
For SHIB, analysts note that if the price can break above $0.00000546 or fall below $0.00000431, a more definitive trend—absent for weeks—might finally emerge.
Main price range holds steady
Current market action sees SHIB trading firmly between $0.00000431 and $0.00000546. Any sustained move outside of this corridor could serve as a clearer directional signal for the popular meme token. As things stand, both burn data and price performance reflect ongoing caution among traders.
