Shiba Inu’s burn volume over the past 24 hours remained around $5, noticeably slowing the token burn trend.

On June 18 (local time), blockchain outlet U.Today reported that 1.02 million SHIB were burned over the period, worth about $5 based on Shibburn data. The burn rate rose 13.92 percent over the same period, but the absolute amount remained small.

The weekly trend was similar. Over the past 7 days, 15.15 million SHIB were burned, worth about $75. The weekly burn rate also rose 14.07 percent, but it was difficult to view it as a burn intensity the market could feel.

The limited market response despite the higher burn rate is because the base is small. If daily burns stay around 1 million SHIB, the impact on reducing circulating supply is not large even if the percentage increase appears. For meme coins with large circulating supply like Shiba Inu, investors tend to view sustained burn volumes and real-use demand within the ecosystem as more important variables than short-term burn rates.

Some also point out that for burns to lead to price gains, simply reducing tokens is not enough. That is because supply reduction can be reflected in market prices only when trading demand, new capital inflows and expanded ecosystem use cases appear together. In an environment where risk-asset preference is weak, it is hard for burn news to quickly restore investor sentiment.

This slowdown is emerging alongside weak investor sentiment across the broader cryptocurrency market. The Fear and Greed Index remains in the "fear zone". This week, investor attention shifted to IPO- and AI-related stocks, pushing down prices across the crypto market, and Shiba Inu did not break away from that trend.

Markets again reacted sensitively to the U.S. Federal Reserve’s policy rate path. The Fed held the benchmark rate at 3.5 percent to 3.75 percent at its June 17 meeting, but its updated economic projections suggested inflation could be higher and the pace of future rate cuts could slow. Some officials also hinted at the possibility that rates may need to rise further.

Weak pressure was also seen in the derivatives market. Coinglass data showed that more than $413 million in cryptocurrency futures positions were liquidated across exchanges over the past 24 hours. Most of the liquidations were long positions, or bullish bets. It means market participants expected a rebound rally after the Fed decision, but actual price moves went in the opposite direction.

Some also see that Shiba Inu’s price action has not entered a steep selloff phase. Shiba Inu recently traded between $0.000004 and $0.0000051, and the market is placing weight on the possibility it will move within that range until clear catalysts emerge. For now, whether the macro environment and investor sentiment recover remains a variable shaping SHIB’s short-term direction more than an expansion in burns.