The Shiba Inu (SHIB) token is continuing its downward trend, even after a short recovery from a previous low of $0.00001234, currently trading around $0.000012650.

However, the daily burn rate, which is critical for its deflationary strategy, has suffered a drastic 63% decline. This diminished burn rate raises concerns about the sustainability of its deflationary goals, especially as trading volume surged by 78%.

Key Insights:

• On-chain trends suggest potential support levels between $0.000012 and $0.000013, with heightened investor activity in these ranges.
• The record high trading volume of over 14.9 billion occurred at 08:02, affirming the bullish trajectory that saw price increases.
• Observations indicate that tokens are being accumulated at lower prices, as buying interest persists even amid market conditions resistant to growth.

Token burning—an effective technique for creating scarcity—is at the heart of deflationary cryptocurrencies. With the burn rate declining, SHIB faces significant headwinds, yet speculative supports could hold price action steady as investors react to market fluctuations.