Shiba Inu News Today: Slump Continues as 1127% Burn Rate Surge Fails to Reverse Downtrend

Sad news for Shiba Inu investors as a 1127% increase in SHIB token burn and a 23% surge in daily trade volume fail to ignite a rebound for the second most valuable meme coin as HODLers sit on unrealized losses of 20% this week alone.

Over the last 24 hours, the Shiba Inu ecosystem has burnt 15+ million SHIB meme coins, representing an 1127% surge in the daily token burn rate. This triggered some excitement in the market, leading to a 23% increase in SHIB’s daily trading volume – bringing it to $382 Million.

The market activity may have helped pause the meme coins’ three-day losing streak, but it wasn’t enough to trigger sufficient bullish momentum. At the time of writing, the joke coin trades less than 1% above yesterday’s price – around $0.00001566.

Investors Flee as Shiba Inu Stuck in a Bearish Trough

Over the last few days, investors have been dumping the dog-themed meme coin for fear of more volatility. Once ranked high among growth cryptos and a darling of long-term investors. Today, it has been purged from most lists of the best cryptos to buy in 2025.

Traders have also shunned digital currency, as evidenced by the sharp decline of SHIB’s open interest. At press time, data from Coinglass indicated that SHIB futures open interest stood at $177 Million, dipping by more than 60% from the recent highs of $540 Million recorded in the third week of January 2025.

Such a steep decline shows that SHIB investors are increasingly dumping both long and short futures trades for fear of uncertain future price action.

The dwindling investor interest in the meme coin may also be explained by recent reports that as much as 60% of all SHIB investors are at a loss. Only about 38% of current SHIB holders are still in the green. This has seen traders and investors flee for more profitable alternatives like Dogecoin. In comparison, as much as 72% of DOGE investors are still in profit.