Shiba Inu has declined 4.81% in the past 24 hours despite being up 5.1% over the past month, according to AMBCrypto data. The swift short-term price losses were accompanied by a slide in the spot CVD and downturn in speculative interest, with the funding rate also turning bearish in recent hours. This performance contrasts sharply with Dogecoin's 1.75% decline and Bitcoin's 0.37% drop over the same period, suggesting specific weakness in SHIB's technical structure.
Shiba Inu has burned 83,839,033 tokens over the past 24 hours, according to reports from AMBCrypto. This represents a significant increase in the project's token burn rate, which has been rising since the beginning of August. The burn activity comes as SHIB has started August in negative territory, but the rising burn rate could signal a strategic play by the project. The token burns are part of a broader shift in deflationary tokenomics, where projects are moving away from scheduled burns to more strategic tools.
According to Shibburn data reported by AMBCrypto, the ecosystem permanently removed 3,248,854,065 SHIB over the past 30 days. While the burned tokens were worth only around ₹16,575 at the time, the key takeaway is that the monthly burn rate jumped 1,395% from the previous 30-day period. This dramatic increase in burn activity suggests a more strategic approach to supply reduction rather than routine token destruction.
The July-end rally was unable to alter the overall bearish structure, with the weekend rally only testing the $0.0000057 supply zone and 61.8% Fibonacci retracement level before slumping lower. The OBV on the daily timeframe has been trending higher over the past ten days, and the MACD was above the zero line to indicate firm upward momentum over the past week. However, technical indicators show bears have the upper hand, with the $0.0000046 demand zone being important over the past week. A move beyond the $0.0000052 level would be the first indication that the late-July bounce was not complete, while a drop to $0.0000034 could represent a 26.6% decline from current market prices.
According to AMBCrypto reports, more than 4 trillion SHIB have recently moved off exchanges as whales continue buying the dip. This accumulation pattern suggests smart money is positioning for future gains while retail investors focus on the current pullback. The weekly chart shows SHIB has been rejected from the ₹0.000005 resistance zone for the second time, with the first rejection occurring in early June. Unlike the earlier rejection, demand appears to be building while supply is gradually tightening through continued token burns.
