Shiba Inu's SHIB Burn Efforts Show Limited Supply Reduction Impact

Shiba Inu burned over 3 million SHIB in 24 hours, but the burn rate still showed a gradual decline. According to blockchain media, the daily burn rate fell 15.80%, with weekly and monthly burn rates dropping 28.12% and 37.44% respectively. Over the past seven days, 59.77 million SHIB were burned, and the 30-day cumulative burn reached 2.8685 billion SHIB, accounting for 41.08% of total supply. Total burned SHIB now exceeds 410 trillion, with 21,266 burn transactions. Notably, 410 trillion SHIB burned in May 2021 by Ethereum founder Vitalik Buterin dominated the volume. Price movements remained largely flat as Bitcoin fluctuated near $65,000, with major cryptocurrencies experiencing weak corrections. The recent downturn reflected more a consolidation phase following a rally rather than a single catalyst. Market liquidity was insufficient to support strong rebounds, though stablecoin buying pressure showed some stabilization. Analysts noted the market hadn't fully recovered the upward momentum needed for sustained growth.