SHIB Volume Plummets 12% in 24 Hours as Price Struggles to Hold Up

Shiba Inu (SHIB) has experienced a steep decline in trading activity within the past 24 hours, raising concerns among investors. The token’s volume dropped by 12.3 percent, falling to $135.73 million as market volatility disrupted momentum.

This sudden dip came as SHIB struggled to maintain support above the $0.000013 level. After breaching that zone, it briefly plunged to $0.00001272 before recovering slightly. At press time, the token is trading at $0.00001283, reflecting only a 0.43 percent gain in the last 24 hours.

Although some members of the SHIB community seem hopeful, trade volumes tell a different story and suggest that people are losing faith. A fall in trading volume to 10.62 billion SHIB tokens reflects that demand is less during the current market session.

The volume of SHIB decreased more sharply than the vast majority of other altcoins. This suggests traders are selling their positions or standing back as uncertainty spreads throughout the market.

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Drop in Burn Rate Adds to Market Concerns

The SHIB burn mechanism also saw a reduction in activity during the same period. Only 16,457,713 SHIB tokens were burned in the last 24 hours, showing a 20.64 percent decrease in the burn rate.

The mechanism, designed to limit supply and potentially boost value, has seen dwindling contributions from participants. It also reflects that people are being careful and patient as the price consolidates.

Dogecoin, the top meme token, experienced an 8.78 percent decline in trading volume, ending up at $979.47 million. The fall in many meme cryptocurrencies at once suggests that both retail investors and big players are becoming more cautious.

Despite vocal online support for SHIB, the price and level of trading activity remain lower than people’s excitement. Many investors are likely pausing to see better direction before they start making large investments.

The decreasing number of Shiba Inu swaps and its failing exchange rate mean investors are currently uncertain. Unless trading picks up, the token may be exposed to more pressure in the near future.

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