Bearish
Shiba Inu's burn rate plummets 91% to 338,050 tokens on September 28, 2026.
On September 28, 2026, Shiba Inu's burn rate experienced a significant decline of 91%, with only 338,050 tokens burned compared to the previous day's 3.9 million. This sharp decrease coincided with SHIB testing its support level around $0.00000566. The reduced burn rate and price testing suggest weakening bullish momentum.
Key points
- Burn Rate Decline: On September 28, 2026, Shiba Inu's burn rate dropped by 91%, with only 338,050 tokens burned compared to the previous day's 3.9 million.
- Price Testing Support: SHIB ended trading on September 28, 2026, at approximately $0.00000566, testing its support level.
- Technical Indicators: The 200-day moving average is around $0.0000058, indicating potential support near $0.0000056.
- Market Sentiment: The significant drop in burn rate and price testing support levels may indicate weakening bullish momentum.
Sources
AI-generated from public news sources. Not financial advice.
