Shiba Inu (SHIB) token recorded a daily burn of 1.02 million coins, equivalent to roughly $5, with the burn rate climbing 13.92% over the last 24 hours.
Burn Activity Overview
The weekly tally shows 15.15 million SHIB tokens destroyed, translating to about $75, and the weekly burn rate rose 14.07% compared with the previous period. These figures stem from data published on the Shibburn tracking site, which monitors blockchain‑based token retirements.
Low burn volumes persist as investors maintain a cautious stance across the broader crypto market. The Fear & Greed Index, which gauges trader sentiment, continues to sit firmly in the fear zone, reflecting subdued confidence among crypto participants.
Market Reaction and Investor Sentiment
At the time of writing, SHIB’s price slipped 2.15% in the last day, settling at $0.000004844, as the crypto market extended its decline following the Federal Reserve’s recent policy briefing. The Fed kept its benchmark interest rate unchanged between 3.5% and 3.75%, but signaled higher inflation expectations and a slower trajectory for future rate cuts.
Crypto futures markets experienced liquidations exceeding $413 million within the previous 24 hours, according to Coinglass data. The majority of those positions were bullish longs, indicating that many investors had bet on a rebound that was thwarted by the latest rate‑policy outlook.