Shiba Inu (SHIB) coin. [Photo: Shutterstock]

Shiba Inu's (SHIB) daily burn tally has started showing again, but the amount actually burned over the past 24 hours fell sharply to 192,678 SHIB.

U.Today, a blockchain media outlet, reported on Oct. 13 that the value of SHIB burned over the past 24 hours was about $1, based on Shibburn figures.

Shibburn had been unable to show the latest burn numbers for a time, leaving users unable to check burn activity. During that period, the 24-hour total burn amount was at one point shown as $0.

The tally was later reflected again. The tracking page first showed a 24-hour burn amount of 192,335 SHIB, then revised it to 192,678 SHIB. It was confirmed that burn activity was being reported again, but it remained limited compared with large-scale burns that had recently drawn attention in the Shiba Inu ecosystem. The daily burn rate also fell 14.22 percent.

Unlike the short-term figure, the medium-term cumulative burn amount was larger. A total of 176,350,000 SHIB was burned over the past 7 days, and 709,440,000 SHIB was burned over the past 30 days. Still, the sharp drop in the daily burn amount limited the short-term perceived impact.

Price action was also weak. SHIB fell 3.64 percent over the past 24 hours to $0.00000522 after a sharp drop the previous day. It slipped to as low as $0.00000502 during the session before edging up.

The broader cryptocurrency market was also weak. Liquidations over the past 24 hours were tallied at $759 million, up 143 percent. With trading active, open interest fell and forced liquidations continued. The market is seen as showing a trend of existing positions being unwound rather than new leverage flowing in.

In this environment, investors are watching U.S. economic indicators due to be released this week. Market consensus expects the year-on-year inflation rate for September, due on Oct. 14, to rise to 3.7 percent from 3.4 percent in August. The consumer price index (CPI) excluding food and energy is also seen rising on an annualized basis to 2.5 percent from 2.4 percent.

On Oct. 15, the September producer price index (PPI) and retail sales data are also scheduled. With the memecoin market, including SHIB, entering a highly volatile phase, a near-term focus is expected to be whether burn volumes recover and how risk-asset appetite changes after the macro data releases.

Keyword

#Shiba Inu #SHIB #Shibburn #CPI #PPI
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