Shiba Inu traded lower on Tuesday as burn activity showed no sustained acceleration, with the token pulling back after last week’s gains.
As of 14:00 UTC, Shiba Inu (SHIB) was trading at $0.00000653, down approximately 1.5% over the previous 24 hours, according to data from CoinMarketCap.
Despite the daily decline, SHIB remained up on a seven-day basis following last week’s advance.
The token’s market capitalization stood near $3.82 billion, with 24-hour trading volume around $149 million, CoinMarketCap data showed.
Circulating supply was listed at approximately 589.24 trillion SHIB, a figure broadly aligned with data from CoinGecko.
Burn Activity Remains Volatile
On-chain burn tracking platform Shibburn continues to record token transfers to dead wallets, though daily totals fluctuate significantly.
The tracker shows intermittent spikes followed by moderation, underscoring the variability of short-term burn velocity.
While burns permanently remove tokens from circulation, daily totals represent a small fraction of SHIB’s overall supply, limiting immediate structural impact.
Analysts generally note that sustained increases in burn volume rather than isolated daily spikes would be required to materially alter supply dynamics.
Blockchain records confirming burn transactions are publicly verifiable through Ethereum explorer Etherscan.
Profit-Taking Follows Weekly Advance
The pullback comes after SHIB posted moderate weekly gains amid broader stabilization across the cryptocurrency market.
Short-term corrections are common after rally phases, particularly in high-volatility meme-linked tokens.
Chart data from TradingView show SHIB encountering resistance near recent short-term highs before retracing during Tuesday’s session.
Market participants attribute the daily decline largely to profit-taking rather than a decisive shift in longer-term positioning.
Broader Market Context
Major cryptocurrencies showed mixed performance at the time of reporting.
Bitcoin and Ethereum traded within narrow ranges, reflecting a consolidation phase that often contributes to amplified swings in smaller-cap assets.
SHIB’s trading activity remained active despite the price dip, suggesting liquidity conditions have not materially deteriorated.
Outlook
Current data indicate short-term consolidation rather than a confirmed reversal.
While Shiba Inu Token’s Left Unburned remains a focal point for traders monitoring deflationary mechanics, supply reduction alone has not produced decisive price direction.
Near-term movement will likely depend on:
- Consistent burn acceleration
- Changes in exchange inflows and outflows
- Broader cryptocurrency market sentiment
- Retail participation levels
For now, SHIB remains sensitive to shifts in trading momentum following last week’s gains.
