Shiba Inu Price Slides as On-Chain Data Shows Zero Token Burns

Shiba Inu (SHIB) came under fresh selling pressure after on-chain data revealed no token burn activity over the past 24 hours.

According to Shibburn, the platform that tracks deflationary movements within the Shiba Inu ecosystem, the network recorded zero SHIB burned during this period.

The absence of burn activity emerged as the token struggled to regain stability amid persistent selling. During the burn-free window, SHIB declined from $0.000007348 to $0.000007126, reflecting growing weakness in market sentiment.

Price Performance Lags Broader Crypto Market

At press time, SHIB traded near $0.000007144, representing a 2.05% daily decline. The token continued to underperform relative to the broader cryptocurrency market, where several assets attempted modest recoveries.

This divergence highlighted waning confidence among traders, particularly as selling activity remained dominant. Despite occasional intraday rebounds, SHIB failed to sustain upward momentum, reinforcing its short-term bearish trend.

Burn Inactivity Raises Community Concerns

The lack of burn activity sparked renewed concern within the Shiba Inu community. Token burns play a central role in the ecosystem by reducing circulating supply through transfers to inactive wallets. Historically, this mechanism has supported scarcity narratives, especially during market downturns.

Without burns, supply pressure remained elevated while prices continued to slide. As a result, the deflationary support that investors often look for during periods of weakness was notably absent.

Technical Indicators Signal Oversold Conditions

Technical indicators further reflected the ongoing stress. The Relative Strength Index (RSI) dropped to 14, signaling deeply oversold conditions. However, despite this extreme reading, buyers remained cautious.

Selling pressure continued to dominate trading sessions, preventing any meaningful rebound. Consequently, overall market momentum stayed tilted toward the downside, with no clear signs of reversal.

Exchange Supply and Selling Volume Intensify Pressure

Adding to the challenges, exchange supply data pointed to heightened sell-side risk. More than 81.5 trillion SHIB tokens remain held across centralized exchanges, a volume that frequently acts as a sell wall during recovery attempts.

Each price uptick faced resistance as traders opted to reduce exposure. Trading volume patterns also suggested distribution rather than accumulation, with short-term holders continuing to offload positions as prices weakened. This behavior pushed SHIB toward progressively lower price levels and increased volatility.

Key Support Levels Under Scrutiny

Investor sentiment weakened further as burn inactivity persisted. Market participants often monitor burn data closely during declining markets, and the lack of deflationary progress left circulating supply unchanged.

Attention has now shifted to the $0.0000070 support zone. Analysts note that failure to hold this level could accelerate losses, with a potential slide toward $0.0000069 if selling pressure intensifies. Panic-driven moves could deepen the decline under current conditions.

Outlook Remains Cautious

In the broader context, ongoing supply concerns continue to limit optimism around a near-term recovery. The combination of zero burns, elevated exchange balances, and sustained selling has constrained upside potential.

Market participants are closely watching whether key support levels can withstand the pressure and whether on-chain dynamics improve.

For now, Shiba Inu remains under strain as deflationary activity stalls and sellers maintain control, leaving its short-term direction dependent on easing selling pressure and renewed burn activity.