I noticed an interesting movement in the Shiba Inu burn rate. In the last 24 hours, the burn amount increased by nearly 173% — 838,000 SHIB tokens were burned. Normally, such activity should trigger a price movement, but SHIB hardly reacted. In fact, there was less than a 1% increase over 24 hours.

According to blockchain data, these burns occurred in two transactions, both made from the same address. A Coinbase-supported wallet initiated this transaction. In total, around 410 trillion SHIB were burned, which corresponds to about 41% of the total supply. So, there was significant activity in the Shiba Inu burn rate.

But here’s where the problem starts — trading volume is decreasing. Spot volume dropped by 9.6%, falling to $24.3 million, and futures volume also declined by 8%. Looking at the week, sharper declines are observed. With this low activity, the increase in Shiba Inu burn rate is not reflected in the price. Without volume recovery, such increases in burn rate are unlikely to impact the market.