Shiba Inu's (SHIB) daily burn rate fell 72.04 percent. The amount burned over the past 24 hours was 936,689 SHIB, worth about $4.

On June 11 local time, blockchain outlet U.Today reported that the weekly burn rate also fell 79.32 percent. The amount burned over the week was limited to 15.06 million SHIB.

The slowdown in burning is seen as tied to a broader contraction in trading across the cryptocurrency market rather than an issue unique to Shiba Inu. Santiment said trading volume in major non-stablecoin assets was hovering near multi-quarter lows and noted that the market now looks closer to searching for the next catalyst.

Sentiment in the derivatives market is also not good. Across major cryptocurrencies, positions and funding rates were cited as pointing to expanding bearish sentiment and an increase in short bets. As market participants stay on the sidelines rather than buying or selling aggressively, Shiba Inu's burn activity also appears to have slowed.

Price action also remains in a weak range. Shiba Inu slid to as low as $0.0000043 on June 6 and has been trading unusually in the $0.000004 range. Over the past 24 hours, it rose 1.87 percent to $0.000004725 as the crypto market rebounded slightly after the U.S. Consumer Price Index report.

Market attention is focused on the possibility of a further rebound. Producer Price Index data to be released by the U.S. Bureau of Labor Statistics has emerged as a factor that could determine the short-term direction. Macro uncertainty and the fallout from recent liquidations are limiting active inflows, but the market is reacting sensitively to macro indicators.

Santiment said trading volume for major cryptocurrencies fell to the lowest level in 2 years. It also said trading volume for major stablecoin assets dropped to levels not seen since mid-2024 and assessed that excitement and conviction in the market have both weakened.

Some also say the decline in trading volume is not interpreted only as a signal of an additional sharp drop. Santiment said the current low level of trading often shows accumulated fatigue rather than the start of a large new down market. It added that in the past there were cases where a strong recovery appeared after periods when interest, trading volume and market participation were at their lowest.

Amid this trend, Shiba Inu is also seeing weak burn indicators and price weakness at the same time. Some observers say that if market confidence recovers even partially and sidelined funds flow back in, even a small inflow could trigger a short-term relief rally. Ultimately, whether Shiba Inu rebounds further is increasingly likely to be driven more by a recovery in overall crypto market trading and reactions to macro data than by its own burn indicators.