Shiba Inu
Why Shiba Inu is down 1.2% in the last hour
Analysis
Shiba Inu (SHIB) dipped about 1.2% over the past hour as traders reacted to signs of weakening on-chain momentum. U.Today reported that SHIB’s burn rate hit a multiweek low alongside falling network activity, which can reduce perceived scarcity pressure and signal softer demand, weighing on short-term price action.
Contributing Factors (1)
Shiba Inu Burn Rate Hits Multiweek Low as Network Activity Falls
Despite less than 500 Shiba Inu being torched within the past 24 hours, the SHIB price has soared.
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.