Shiba Burn Follies: Bulls, Burns, and a Price That Sneezed 😂

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In a city where numbers drift like comically overconfident pigeons, Shiba Inu bulls polish their talons on the charts, aiming to lift the price toward the mythical $0.00001, or at least stop the slide long enough for someone to notice. Data from Shibburn, the oracle of deflationary mischief, shows burn activity up a heroic 910.98%-as if a dragon had learned the art of polite housekeeping. 🐉💥

Shiba Inu bulls target supply reduction

In the last 24 hours, Shiba Inu’s bulls sent a grand total of 4,369,584 SHIB to dead wallets in renewed efforts to thin the circulating supply. The move comes as SHIB wobbles within a price range of $0.058491 to $0.059009 in the last 24 hours, like a tightrope performer wearing flip-flops. 😜

The Shiba Inu ecosystem has always relied on the burn mechanism to control available supply. The community hopes that by limiting circulating supply, scarcity could make prices appreciate, or at least keep them from sulking in a corner of the market.

With the removal of more than 4.37 million SHIB permanently from circulation, this brings the total SHIB burnt from the initial supply to 410.75 trillion. The total supply in the ecosystem now stands at 589,245,769,952,109 SHIB. Out of this amount, 585406,785,022,741 SHIB remain in the circulating supply.

The remaining 3,839,011,929,368 SHIB are staked and do not contribute to the added volatility of the meme coin. Which is to say, the stake is doing the hero’s work while the market frets with a teacup and a weather vane. ☕🧭

With Shiba Inu bulls fighting to keep the price stable, trading volume has stayed green and remains up by 8.08% at $179.96 million. However, exchange flows whisper that selling pressure might be building, given the broader meme coin sector’s mood is more dramatic than a soap opera in a wizard’s tower. 🎭

SHIB price dips despite rising volume

As of press time, Shiba Inu exchanges hands at $0.000008597, representing a 2.11% decline in the last 24 hours. The price decline has been attributed to profit-taking by short-term traders after SHIB failed to break a key resistance level-because even mythical creatures need a breather now and then. 🕯️

On the bright side, Shiba Inu’s Relative Strength Index (RSI) sits at 57, a touch of neutrality that suggests the meme coin isn’t in oversold territory. So, perhaps this dip is merely a charming invitation for buyers to arrive with bells on. 🛎️

For Shiba Inu to sustain an uptrend, bulls mustn’t rely solely on burn metrics. The meme coin’s futures traders need to stay active in their bets, as declining open interest could signal a loss of confidence and more price slippage-like a shoestring trying to hold up a statue in a windstorm. 💨

Notably, every slip of Shiba Inu’s open interest into the red zone increases bearish sentiments for market participants. This ultimately affects the asset’s price negatively and delays the long-awaited elimination of one zero from SHIB’s price tag-an achievement that would be politely catastrophic in the annals of meme finance. 🧙‍♂️

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2026-01-15 13:34