Shiba Inu's burn rate has crashed to 0% in the last 24 hours, with just over 500 SHIB tokens burned.
According to Shibburn, 552 SHIB tokens were burned in the last 24 hours as the crypto market enters a slowdown phase. The sudden drop has caused the Shiba Inu burn rate to collapse, reaching 0%. This contrasts with a 3,620% surge in burn rate the day before, when over seven million tokens were burned.
In the last seven days, the Shiba Inu burn rate also significantly declined. According to the Shibburn rate, 2,150,328 SHIB tokens were burned, marking a 96.96% drop.
Traders seem to be taking a wait-and-see approach as the year 2025 wraps up, with various market metrics declining.
Historically, this often coincides with moments when panic-sellers become exhausted and markets approach a reversal.
SHIB price action
Shiba Inu extended its slide from a high of $0.00000845 on Dec. 13 into the fifth day, reaching a low of $0.00000731 in Thursday's session.
Shiba Inu's U.S. perpetual style futures' launch on Coinbase on Dec. 15 had failed to lift the SHIB price, as it fell alongside the rest of the crypto market.
At press time, Shiba Inu was trading down 4.55% in the last 24 hours to $0.000007344 amid a general decline on the broader crypto market as investors weighed newly released inflation data.
The delayed November consumer price index report, which is the first one issued to the public since the U.S. government shutdown ended last month, showed that the headline annual inflation rate was 2.7%, according to the Bureau of Labor Statistics.
