Shiba Inu token ($SHIB) recorded the destruction of 4.99 million coins in the past 24 hours, while the daily burn rate climbed 20.86 % during the same period.
Burn Activity Overview
The weekly tally shows 17.32 million $SHIB burned over the last seven days, a figure that translates to a 14.42 % decline in the weekly burn rate. This reduction follows a broader market sentiment that remains subdued, with the Fear and Greed Index anchored at 20, firmly in the fear zone according to CoinMarketCap. Investors continue to monitor the blockchain’s tokenomics as the burn metrics fluctuate.
Price Performance
At press time, $SHIB traded at $0.000004971, marking a 1.23 % rise for the day on CoinMarketCap data. Earlier in the week the coin slipped to $0.00000456 after a two‑day dip, but it rebounded to secure a weekly gain of 9.12 %. The previous week saw a near‑15 % drop, with the token touching a fresh bear‑market low of $0.00000433.
Derivative Market Signals
Crypto futures volume contracted by 31.05 % in the last 24 hours, falling to $120 million, while open interest lingered around $105 million, indicating that traders are pausing rather than liquidating positions. Shiba Inu’s open interest edged up 0.72 % to $36.22 million, accompanied by a 7 % rise in volume, suggesting renewed activity after an hourly golden cross. These mixed signals reflect cautious optimism among crypto investors.