SHIB bulls have been busy burning tokens these past two days, sending over 4.37 million tokens to the burn address within 24 hours, with the burn rate soaring by 910.98%. The strategy is clear—reduce circulating supply and boost the price. But the reality is a bit harsh: SHIB still dropped by 2.11%, with the current price at $0.000008597. The entire meme coin sector is trending downward, and selling pressure remains hard to contain.

On the bright side, trading volume has increased by 8.08% to $179.96 million, indicating that the market hasn't completely cooled off. However, from a technical perspective, the RSI is at 57, neither oversold nor overbought, indicating a neutral state. Analysts generally agree that whether SHIB can truly rebound depends largely on the attitude of futures traders. If open interest continues to shrink, it suggests market confidence is waning, and token burns alone may not be enough to turn the tide.