Shiba Inu Roars Back to $0.000013 as Loss-Making Wallets Plummet 16%—But Burn Rate Fails to Keep Pace
Shiba Inu claws its way back above a key psychological threshold—just as underwater holders bail out en masse. The meme coin’s latest rebound coincides with a 16% drop in loss-stricken addresses, signaling capitulation before the bounce. But there’s a catch.
Where’s the fire? SHIB’s token burn mechanism—meant to artificially induce scarcity—is lagging behind price action. While traders celebrate the rebound, the burn rate’s sluggishness threatens to cap upside potential. Another case of crypto investors cheering a sprint while ignoring the marathon.
Wall Street’s old guard would smirk at the irony: a 'deflationary' asset where the supply glut outlasts the hype. For now, SHIB bulls ride the momentum—until the next whale dumps or the burns finally catch up. Whichever comes first.
Shiba Inu holder data | IntoTheBlock
Shibarium Continues Topping 4M Daily Transactions
In the meantime, Shiba Inu’s LAYER 2 blockchain, Shibarium, has continued to process more than 4 million transactions daily. Over the past month, Shibarium processed fewer than 4 million transactions on three occasions: June 25 (3.98 million), July 3 (3.68 million), and July 7 (3.98 million).
Notably, it has registered over 4 million daily transactions since July 8, with 4.23 million transactions reported on July 15. Since its inception in August 2023, Shibarium has processed over 1.38 billion transactions, minted 12.04 million blocks, and interacted with 267.27 million blockchain addresses.
Out of the 281,057 total accounts registered on Shibarium, only 2,022 of them were active in the hours leading up to press time.
