Shiba Inu Sinks 16% In 7 Days: What Is Going On?

Shiba Inu SHIB/USD has dropped 16% over the past seven days, but rising burn rates and large transaction activity hint at brewing potential under the surface.

Trader Notes: Market commentator Joey Keasberry described Shiba Inu's technical setup as "extremely unusual or impressive."

While the token hasn't broken out yet, he believes a breakout could be explosive, suggesting that now might be the time to gain exposure before it attracts broader attention.

Statistics: Despite the recent price decline, SHIB's token burn activity is ramping up.

According to Shibburn, two significant burns in the past 24 hours, 14.99 million SHIB and 22.7 million SHIB, pushed the total daily burn to over 41 million tokens, increasing the burn rate by 1,131.8%.

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Data from IntoTheBlock shows large SHIB transaction volume jumped 63.2%, though daily active addresses dipped by 5%.

Transactions over $100,000 climbed from 40 to 50 in the last 24 hours, indicating renewed whale interest.

Currently, around 26,200 addresses are in profit at SHIB’s current price.

However, nearly 119,850 addresses are holding SHIB purchased between $0.000016 and $0.000019, showing that many investors are positioned for higher prices and remain optimistic.

Shibariumscan data shows that daily transaction volume has fallen below 4 million since May 12, drawing concern and speculation on Crypto Twitter about the meme coin's momentum.

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