SHIB Token Slides 2.47% as Burn Rate Surges 1,800% and Futures Traders Eye Support Zone

Shiba Inu (SHIBUSDT) experienced a 2.47% price decrease over the past 24 hours, largely attributed to ongoing bearish sentiment in the broader cryptocurrency market and technical resistance at the 50-day EMA, which prompted a retreat by buyers following a rejected price bounce. The increase in SHIB token burn rate by 1,800% may contribute to long-term supply reduction but has yet to offset current selling pressure, while elevated futures open interest suggests some traders anticipate a possible relief rally as SHIB approaches a long-term support zone. SHIBUSDT is currently trading at $0.00000867 on Binance with a 24-hour volume between $121.36 million and $229.94 million, a market cap of approximately $5.06–$5.19 billion, and remains actively traded with continued investor interest.