Shiba Inu (SHIB) trading volume has crashed within the last 24 hours as prices continue to experience downward movement within the same time frame. After violating $0.000013 in support, Shiv continues to fluctuate despite community bullish sentiment.
Despite market activity, Shiba Inu volume plummets
Shiba Inu was recorded at $13573 million, down 12.3% in volume. This will be 10,620,000,000 Shives within the last 24 hours. This massive crash is one of the highest collisions of altcoins in this period. This suggests that dog-themed meme coins are in trouble as investors monitor trends.
Shiv's volatility plunged the meme coin into a depth of $0.00001272 as sales pressure was installed before posting the recovery. It has changed hands at $0.00001,283, representing an increase of 0.43% over the past 24 hours.
10.6 billion tokens are rare compared to the performance of other altcoins. King of the Meme Coins' Dogecoin also suffered a similar decline, falling 8.78% to $979.47 million.
This unexpected drop has led to large holders selling either in profit or in portfolio rebalancing moves.
Meanwhile, the burn mechanism of Shiv, which is designed to reduce circulation supply, has also dropped dramatically. The burn rate has plummeted by 20.64% as 16,457,713 shiv tokens have been incinerated in the past 24 hours.
Shiv's June historic red streak and hopes for 2025
As reported by U.Today, June is a bearish month for Memecoin. Shiba Inu has never closed June positively. I'm always posting red candles for Altcoin.
SHIB's technical indicators do not show sufficient promise that tokens can reverse this trend. Most of the potential rebound metrics remain red zone and bearish.
Despite these signals, traders are optimistic that Shib may register surprises in 2025. They quickly anticipate the possibility of a rally and consider this period as the integration phase of Meme Coin.
