Only $4 in SHIB Burned: What's Behind 72% Drop?

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. The Shiba Inu burn rate has declined 72.04% in the last 24 hours, with just $4 worth of SHIB burned. This development follows as the market continues to search for its next catalyst. Advertisement According to the Shibburn website , just 936,689 SHIB were burned in the last 24 hours, amounting to only $4, with the daily burn rate falling 72.04%. The weekly burn rate was likewise down 79.32% with a meager 15.06 million SHIB burned. According to Santiment, volume across crypto's largest non-stablecoin assets is now sitting near multi-quarter lows, with the current environment increasingly resembling a market searching for its next catalyst. HOT Stories XRP Vindicated? Ripple CEO Says 'Yes' What's Next if XRP Falls Below $1? First Ethereum (ETH) Reversal Signal, Cardano (ADA) Gets Fully Reset: Crypto Market Review Derivatives positioning and funding rates across major cryptocurrencies point to growing bearish sentiment and increased short bets. Advertisement You Might Also Like Wed, 06/10/2026 - 10:29 80 Trillion Shiba Inu (SHIB) Threshold on Verge of Finally Being Destroyed By Arman Shirinyan Shiba Inu is trading in the rare $0.000004 range, after reaching a low of $0.0000043 on June 6. The dog token was up 1.87% in the last 24 hours to $0.000004725 as the crypto markets slightly rebounded in response to CPI data released on Wednesday. Traders are now watching the latest U.S. producer price index data, due later from the Bureau of Labor Statistics. Relief rally coming? Shiba Inu fell to never-before-seen lows of $0.000004 as selling intensified across the market in June. Advertisement According to Santiment, top market caps are seeing 2-year low trading volumes, signaling capitulation that might be needed to create a crypto relief rally. You Might Also Like Fri, 05/29/2026 - 13:40 19,513,946 SHIB Destroyed, Shiba Inu Burn Rate Responds With 159% Spike By Tomiwabold Olajide It noted in a tweet that trading volume across crypto's largest non-stablecoin assets has fallen to levels not seen since mid-2024, reflecting a market where both excitement and conviction have largely dried up. Traders appear reluctant to aggressively buy or sell as macro uncertainty and recent liquidations keep participants on the sidelines. While low volumes might seem discouraging at the moment, they often signal exhaustion rather than the beginning of a major new downtrend. Santiment noted that historically, some of crypto's strongest recoveries have emerged from periods when interest, volume, and participation were at their lowest. If confidence begins to return, slight inflows could be enough to spark a much-needed relief rally as sidelined capital re-enters the sector. #Shiba Inu (SHIB) News #Shiba Inu #SHIB