Shiba Inu Burns Halt as SHIB Price Falls Over 5% on Whale Move
Shiba Inu (SHIB) burn activity stopped over the latest 24‑hour window, with Shibburn reporting zero tokens sent to dead wallets after a one‑off large burn of 10,491,803 SHIB roughly 48 hours earlier. The pause in burns coincided with renewed selling pressure: a whale moved 41 billion SHIB to an OKX hot wallet, a pattern often preceding exchange sales. SHIB’s price fell about 5.5% to $0.00000685 and 24‑hour trading volume dropped ~18% to $126.25 million. Circulating supply remains ~585.412 trillion SHIB, with ~3.83 trillion SHIB staked (total supply ~589.25 trillion). Market observers point to rising Bitcoin dominance and increased exchange inflows as additional headwinds for altcoins. The coverage highlights growing skepticism over the effectiveness of SHIB’s burn mechanism given the enormous total supply and the relatively tiny amounts removed in typical burns, arguing that sporadic burns have so far failed to provide sustained price support. Traders should watch exchange inflows, whale wallet moves, and burn activity for near‑term sell pressure signals.
Bearish
The combined developments point to bearish implications for SHIB. Zero burn activity removes a potential (though limited) scarcity driver, while a recent whale transfer of 41 billion SHIB to an OKX hot wallet increases the probability of exchange selling. Price has already declined ~5.5% with a concurrent drop in volume, suggesting weakening buyer support. Additionally, higher Bitcoin dominance and broader exchange inflows typically divert capital away from altcoins, adding downward pressure. In the short term, traders should expect continued volatility and potential further declines if the whale converts holdings to sell orders or if burn activity remains absent. In the medium to long term, meaningful positive price impact would require sustained, materially larger burns or a persistent reduction in circulating supply; isolated small burns are unlikely to change the supply dynamics meaningfully, so the long‑term outlook remains neutral to negative until demonstrable scarcity or demand improvements emerge.