The Shiba Inu token faces mounting pressure as key metrics signal weakening momentum. Recent data from Shibburn reveals sharp declines in burn rates across multiple timeframes. The meme coin has also fallen behind competitors in whale transaction activity.
Burn Metrics Show Steep Decline
The SHIB burn rate dropped 12.73% over the past 24 hours. During this period, 1,319,354 tokens were sent to unspendable wallets. The weekly figures paint a more concerning picture.
Over seven days, the burn rate collapsed by 82.12%. The Shiba Inu community managed to burn 34,819,938 tokens during this timeframe. These numbers represent a significant slowdown compared to previous periods.
As 2026 began, the total burned supply reached 410,754,186,675,427 SHIB. The remaining circulating supply stands at 585,389,093,769,117 tokens.
The price currently sits at $0.00000854 following a 3.56% decline over the last 24 hours.
SHIB’s price action over the past 24 hours (Source:CoinCodex)
Whale Activity Falls Behind Competitors
On-chain analytics firm Santiment released data showing SHIB’s underwhelming performance among major meme coins. The analysis focused on large whale transactions exceeding $100,000 in value over a seven-day period.
SHIB ranked tenth with only 111% growth in whale transfers. This marks the lowest performance among prominent meme cryptocurrencies. FLOKI on Ethereum claimed the top position with 950% growth in large transactions.
PEPE secured second place with a 620% increase. FLOKI on the BNB chain followed in third with 550% growth. The gap between SHIB and leading meme coins continues to widen.
Source: https://coinpaper.com/13623/shib-price-sinks-as-burn-rate-collapses-82-whales-dump-for-pepe-and-floki
