Shiba Inu Burn Rate Crashes 61%, Trading Volume Falls Below $400 Million, Why Are Bearish Indicators Piling Up?

Quick Summary:

Shiba Inu (SHIB), the second-largest meme coin by market capitalization, faces severe downside momentum as several technical indicators turn bearish.

As the market enters a correctional phase due to the decline in Bitcoin, Shiba Inu records a 61% decline in burn rate while its trading volume falls below $400 million.

The broader crypto market has been experiencing heightened volatility after the Bitcoin price crashed below $100,000.

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Article Details

Author / Journalist: Scott Matherson

Category: Crypto

Markets: HungaryCanadaChinaMexicoUnited States

Topics: Shiba Inu price Shib Shibburn Relative strength index Moving average SHIB price Shiba Inu SHIBUSDT SHIB news RSI Bitcoin MA Donald Trump Shiba Inu holders Shiba Inu news SHIBUSD Coinmarketcap Btc

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-08 @ 08:00:45 (12 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 477 words

Reading Time: 3 minutes read

Sentences: 37 lines

Sentence Length: 13 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 25978548

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About Bitcoinist

Main Topics: Crypto

Official Website: bitcoinist.com

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Year Established: 2014

Headquarters: Hungary

News Last Updated: 9 hours ago

Coverage Areas: Hungary

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