In a dramatic turn of events, Shiba Inu (SHIB) has experienced a steep decline of 7.5% in just a single day, bringing its price down to $0.00001364. This sharp drop is part of a broader trend, as many major altcoins are also grappling with significant losses in today’s turbulent market. However, while SHIB has declined by 5% over the past week, it still shows resilience with a commendable 16% increase over the last month. Looking back further, though, the meme coin faces a stark reality: it has plummeted nearly 21% compared to this time last year.
But what’s particularly intriguing about this slump is its correlation with the fluctuating burn rate of SHIB. Earlier this week, the burn rate saw an astronomical surge of 6,500%, only to plummet by a staggering 94% in the last 24 hours. These zealous burn activities are not just a fleeting trend; they indicate the community’s ongoing efforts to reduce the total supply of SHIB, which many believe could pave the way for future price appreciation.
Delving into the latest data, it’s clear that the community is actively engaged in supporting SHIB’s ecosystem. On Tuesday, the burn rate peaked at 22.9 million SHIB within a single day. This spike was thanks to strong activity on the Shibarium layer-two network and enthusiastic communal initiatives. However, today’s figures reveal a drastic decrease to only 224,000 SHIB burned, raising questions about the sustainability of such spikes in community activity. It’s crucial to understand that while these burn rates can vary widely, the overall week-on-week burn rate still shows an impressive increase of 388% compared to the previous week.
HOURLY SHIB UPDATE
$SHIB Price: $0.00001333 (1hr -2.14% ▼ | 24hr -12.38% ▼ )
Market Cap: $7,876,270,236 (-12.15% ▼)
Total Supply: 589,248,565,276,845
TOKENS BURNTPast 24Hrs: 225,774 (-93.93% ▼)
Past 7 Days: 135,018,410 (388.11% ▲)— Shibburn (@shibburn) July 24, 2025
The cumulative impact of these burn activities has helped to lower Shiba Inu’s circulating supply to 589.25 billion SHIB. Such efforts not only uplift SHIB’s value but also draw new investors into the fold, fostering growth in the community. Yet, when analyzing SHIB’s trading charts, one cannot overlook the significant damaging trends emerging. Key indicators have plunged toward bearish territory, signaling potential challenges ahead.
Most notably, SHIB’s relative strength index (RSI) has taken a sharp nosedive, poised to fall below the critical threshold of 50. Additionally, the Moving Average Convergence Divergence (MACD) has not only reached its peak but is also starting to slide back to baseline, suggesting a weakening bullish momentum. Could further declines loom in the days ahead? Some analysts are concerned, especially after last week’s aggressive market rally seemed unsustainable.
Despite these discouraging signals, many enthusiasts remain optimistic, largely due to the robust and committed Shiba Inu community. The potential for SHIB to rebound is still very much alive. Some analysts predict that if current trends continue, we could see SHIB’s price rise back to $0.000020 by the end of August and perhaps even touch $0.000030 by the fourth quarter of this year, spurred by ongoing developments like the ShibOS Alpha Layer.
The excitement around SHIB, however, faces competition from newer meme coins emerging on the scene. One such token is TOKEN6900 (T6900), which has taken the crypto community by storm, raising over $1 million in its presale. Drawing inspiration from the notorious dot-com bubble, TOKEN6900 employs a viral marketing strategy that captures the spirit of nostalgia and the thrill of FOMO (fear of missing out). This approach has resonated with investors who are looking for the next big meme coin following in the footsteps of its successful predecessors.
TOKEN6900 RAISED $1M. pic.twitter.com/6WYygEshhq— Token6900 (@Token_6900) July 23, 2025
Investors seeking a slice of the action can join the TOKEN6900 sale by visiting their official website and connecting a digital wallet. Currently priced at $0.0067, early adopters can even stake T6900 for passive income, making it an attractive alternative to more established coins like SHIB.
As the meme coin landscape continues to evolve, the big question remains: Will Shiba Inu reclaim its former glory, or will new contenders like TOKEN6900 capture the hearts and wallets of the crypto community? With crypto markets notoriously volatile, this is one saga surely worth following. Be sure to stay tuned for more updates!