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Shiba Inu Coin burn rate turns red, but what do the whales REALLY think?

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Shiba Inu [SHIB] has been known for its robust burn rate in the past as it kept decreasing its circulating supply. These efforts were in the spotlight recently after the Shiba Inu Coin burn rate surged by more than 5000%. However, contrary to expectations, the trend was momentary, as the chart turned red soon.

Read Shiba Inu’s [SHIB] Price Prediction 2023-24

Shibburn’s data revealed that at press time, Shiba Inu’s burn rate was down by over 50%. In the last 24 hours, only 7,261,876 SHIB were burned via three transactions. A declining burn rate is not a good signal for the token’s deflationary characteristic.

Source: Shibburn

The meme token has also been pretty sluggish with its price action lately as it has not registered gains. Part of the blame can be put on the bearish market sentiment that prevailed.

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For instance, according to CoinMarketCap, SHIB is down by more than 3% over the last seven days. At the time of writing, it was trading at $0.000009889 with a market capitalization of over $5.8 billion, making it the 15th largest crypto by market cap.

Shiba Inu’s DEX platform, ShibaSwap, has also been declining on several fronts. For instance, the DEX’s active users have fallen since the beginning of Q2 2023. A similar trend was also seen in terms of the number of daily transactions. Because of lower usage, the network’s fees and revenue also followed the same depreciating trend over the last few weeks.

Source: DeFiLlama

Despite a host of red flags, the largest players in the crypto-space are confident in the meme token.

WhaleStats, a platform that shares insights into whale activity, revealed recently that SHIB was the most traded token over a 24-hour period. Moreover, SHIB’s popularity was proven yet again after it ranked 4th on the list of cryptos that the top 100 Ethereum [ETH] whales were holding.

Source: WHALESTATS

Possible reasons behind confidence in SHIB can be its ecosystem developments and the projects in the pipeline. Unlike how memecoins are generally perceived, Shiba Inu has proven to be committed to creating an ecosystem.

In fact, a few months ago, the blockchain launched its much-awaited Shibarium, a development that garnered much traction.

#Shibarium bridge – partly functional.

I Don't share the address, but I'm happy to share screenshots.

Remember, this is all testing and preparation.
We believe in $BONE (and $SHIB + $LEASH) pic.twitter.com/nBAyj0lV3u

— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) April 28, 2023

Additionally, it also launched a new feature for Shibarium. On 29 April, Lucie Sasnikova of the Shiba Inu army revealed the bridge feature on Shibarium, which had been activated and was partially operational.

Shibarium also hit a new milestone as its total number of wallet addresses exceeded 14 million. Also, Puppyscan.io’s data found that there have been more than 4 million transactions – An encouraging statistic.

Source: puppyscan.shib.io

Apart from Shibarium, Shiba Inu’s SHIB the Metaverse has also created much hype over the past several months. On April 28, the project tweeted about a forthcoming event pertaining to its metaverse. SHIB advised fans to tune in for an exclusive look at its Metaverse as Rocket Pond’s unveiling date approaches.

🚀 Get ready to uncover the secrets of Rocket Pond! Stay tuned to @mvshib and https://t.co/yPe8r4GQrl for an exclusive look at our #metaverse. Plus, don't miss your chance to win some lands – there's only a few days left to enter the contest! WOOF! https://t.co/SQSnW61rP3

— Shib (@Shibtoken) April 28, 2023

Investors’ patience might soon pay off, especially after CryptoQuant’s data revealed a major bullish signal. Shiba Inu’s Relative Strength Index (RSI) and Stochastic were both in oversold positions at press time. These are signs of buying pressure and these in turn can hike the meme coin’s price on the charts.

Source: CryptoQuant

Furthermore, SHIB’s exchange reserves are decreasing, further suggesting that selling pressure is declining too. However, not everything has been working in SHIB’s favor, as quite a few metrics suggested otherwise.

For instance – SHIB’s daily active addresses declined, which by and large is a negative development.

SHIB’s MVRV Ratio had a low reading too. This was evidence that the token’s price has significantly declined below the aggregate cost basis, indicating investors may be holding substantial unrealized losses or low unrealized profits.

After a decline, SHIB’s supply on exchanges registered an uptick as well – A typical bearish signal.

Source: Santiment

Finally, Coinglass pointed out more bad news for the world’s second largest memecoin.

As per the same, SHIB’s Futures Open Interest has been on the rise. When Open Interest rises, it typically indicates that more capital is entering the market for that option – A sign that the ongoing trend will continue.

Source: Coinglass

Is your portfolio green? Check the Shiba Inu Profit Calculator

Like its metrics, SHIB’s daily chart was also ambiguous, with a few indicators in the bulls’ favor and the rest against. For example, the Money Flow Index (MFI) was in the oversold zone at press time, increasing the chances of a trend reversal.

On the other hand, the Exponential Moving Average (EMA) Ribbon revealed a bearish upper hand in the market. SHIB’s Chaikin Money Flow (CMF) also registered a decline, which is why SHIB’s near-term movement is a question with no certain answer at this point.

Source: TradingView

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  • 14.10.25 08:46 robertalfred175

    CRYPTO SCAM RECOVERY SUCCESSFUL – A TESTIMONIAL OF LOST PASSWORD TO YOUR DIGITAL WALLET BACK. My name is Robert Alfred, Am from Australia. I’m sharing my experience in the hope that it helps others who have been victims of crypto scams. A few months ago, I fell victim to a fraudulent crypto investment scheme linked to a broker company. I had invested heavily during a time when Bitcoin prices were rising, thinking it was a good opportunity. Unfortunately, I was scammed out of $120,000 AUD and the broker denied me access to my digital wallet and assets. It was a devastating experience that caused many sleepless nights. Crypto scams are increasingly common and often involve fake trading platforms, phishing attacks, and misleading investment opportunities. In my desperation, a friend from the crypto community recommended Capital Crypto Recovery Service, known for helping victims recover lost or stolen funds. After doing some research and reading multiple positive reviews, I reached out to Capital Crypto Recovery. I provided all the necessary information—wallet addresses, transaction history, and communication logs. Their expert team responded immediately and began investigating. Using advanced blockchain tracking techniques, they were able to trace the stolen Dogecoin, identify the scammer’s wallet, and coordinate with relevant authorities to freeze the funds before they could be moved. Incredibly, within 24 hours, Capital Crypto Recovery successfully recovered the majority of my stolen crypto assets. I was beyond relieved and truly grateful. Their professionalism, transparency, and constant communication throughout the process gave me hope during a very difficult time. If you’ve been a victim of a crypto scam, I highly recommend them with full confidence contacting: 📧 Email: [email protected] 📱 Telegram: @Capitalcryptorecover Contact: [email protected] 📞 Call/Text: +1 (336) 390-6684 🌐 Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

  • 14.10.25 08:46 robertalfred175

    CRYPTO SCAM RECOVERY SUCCESSFUL – A TESTIMONIAL OF LOST PASSWORD TO YOUR DIGITAL WALLET BACK. My name is Robert Alfred, Am from Australia. I’m sharing my experience in the hope that it helps others who have been victims of crypto scams. A few months ago, I fell victim to a fraudulent crypto investment scheme linked to a broker company. I had invested heavily during a time when Bitcoin prices were rising, thinking it was a good opportunity. Unfortunately, I was scammed out of $120,000 AUD and the broker denied me access to my digital wallet and assets. It was a devastating experience that caused many sleepless nights. Crypto scams are increasingly common and often involve fake trading platforms, phishing attacks, and misleading investment opportunities. In my desperation, a friend from the crypto community recommended Capital Crypto Recovery Service, known for helping victims recover lost or stolen funds. After doing some research and reading multiple positive reviews, I reached out to Capital Crypto Recovery. I provided all the necessary information—wallet addresses, transaction history, and communication logs. Their expert team responded immediately and began investigating. Using advanced blockchain tracking techniques, they were able to trace the stolen Dogecoin, identify the scammer’s wallet, and coordinate with relevant authorities to freeze the funds before they could be moved. Incredibly, within 24 hours, Capital Crypto Recovery successfully recovered the majority of my stolen crypto assets. I was beyond relieved and truly grateful. Their professionalism, transparency, and constant communication throughout the process gave me hope during a very difficult time. If you’ve been a victim of a crypto scam, I highly recommend them with full confidence contacting: 📧 Email: [email protected] 📱 Telegram: @Capitalcryptorecover Contact: [email protected] 📞 Call/Text: +1 (336) 390-6684 🌐 Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

  • 14.10.25 08:46 robertalfred175

    CRYPTO SCAM RECOVERY SUCCESSFUL – A TESTIMONIAL OF LOST PASSWORD TO YOUR DIGITAL WALLET BACK. My name is Robert Alfred, Am from Australia. I’m sharing my experience in the hope that it helps others who have been victims of crypto scams. A few months ago, I fell victim to a fraudulent crypto investment scheme linked to a broker company. I had invested heavily during a time when Bitcoin prices were rising, thinking it was a good opportunity. Unfortunately, I was scammed out of $120,000 AUD and the broker denied me access to my digital wallet and assets. It was a devastating experience that caused many sleepless nights. Crypto scams are increasingly common and often involve fake trading platforms, phishing attacks, and misleading investment opportunities. In my desperation, a friend from the crypto community recommended Capital Crypto Recovery Service, known for helping victims recover lost or stolen funds. After doing some research and reading multiple positive reviews, I reached out to Capital Crypto Recovery. I provided all the necessary information—wallet addresses, transaction history, and communication logs. Their expert team responded immediately and began investigating. Using advanced blockchain tracking techniques, they were able to trace the stolen Dogecoin, identify the scammer’s wallet, and coordinate with relevant authorities to freeze the funds before they could be moved. Incredibly, within 24 hours, Capital Crypto Recovery successfully recovered the majority of my stolen crypto assets. I was beyond relieved and truly grateful. Their professionalism, transparency, and constant communication throughout the process gave me hope during a very difficult time. If you’ve been a victim of a crypto scam, I highly recommend them with full confidence contacting: 📧 Email: [email protected] 📱 Telegram: @Capitalcryptorecover Contact: [email protected] 📞 Call/Text: +1 (336) 390-6684 🌐 Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

  • 15.10.25 18:07 crypto

    Cryptocurrency's digital realm presents many opportunities, but it also conceals complex frauds. It is quite painful to lose your cryptocurrency to scam. You can feel harassed and lost as a result. If you have been the victim of a cryptocurrency scam, this guide explains what to do ASAP. Following these procedures will help you avoid further issues or get your money back. Communication with Marie ([email protected] and WhatsApp: +1 7127594675) can make all the difference.

  • 15.10.25 21:52 harristhomas7376

    "In the crypto world, this is great news I want to share. Last year, I fell victim to a scam disguised as a safe investment option. I have invested in crypto trading platforms for about 10yrs thinking I was ensuring myself a retirement income, only to find that all my assets were either frozen, I believed my assets were secure — until I discovered that my BTC funds had been frozen and withdrawals were impossible. It was a devastating moment when I realized I had been scammed, and I thought my Bitcoin was gone forever, Everything changed when a close friend recommended the Capital Crypto Recover Service. Their professionalism, expertise, and dedication enabled me to recover my lost Bitcoin funds back — more than €560.000 DEM to my BTC wallet. What once felt impossible became a reality thanks to their support. If you have lost Bitcoin through scams, hacking, failed withdrawals, or similar challenges, don’t lose hope. I strongly recommend Capital Crypto Recover Service to anyone seeking a reliable and effective solution for recovering any wallet assets. They have a proven track record of successful reputation in recovering lost password assets for their clients and can help you navigate the process of recovering your funds. Don’t let scammers get away with your hard-earned money – contact Email: [email protected] Phone CALL/Text Number: +1 (336) 390-6684 Contact: [email protected] Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

  • 15.10.25 21:52 harristhomas7376

    "In the crypto world, this is great news I want to share. Last year, I fell victim to a scam disguised as a safe investment option. I have invested in crypto trading platforms for about 10yrs thinking I was ensuring myself a retirement income, only to find that all my assets were either frozen, I believed my assets were secure — until I discovered that my BTC funds had been frozen and withdrawals were impossible. It was a devastating moment when I realized I had been scammed, and I thought my Bitcoin was gone forever, Everything changed when a close friend recommended the Capital Crypto Recover Service. Their professionalism, expertise, and dedication enabled me to recover my lost Bitcoin funds back — more than €560.000 DEM to my BTC wallet. What once felt impossible became a reality thanks to their support. If you have lost Bitcoin through scams, hacking, failed withdrawals, or similar challenges, don’t lose hope. I strongly recommend Capital Crypto Recover Service to anyone seeking a reliable and effective solution for recovering any wallet assets. They have a proven track record of successful reputation in recovering lost password assets for their clients and can help you navigate the process of recovering your funds. Don’t let scammers get away with your hard-earned money – contact Email: [email protected] Phone CALL/Text Number: +1 (336) 390-6684 Contact: [email protected] Website: https://recovercapital.wixsite.com/capital-crypto-rec-1

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