# Shiba Inu price slides 2% despite 83 million token burn

**Published:** 2026-08-06T16:35:41.341Z  
**Topic:** Shiba Inu  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/f71c8f04-4cf4-4b92-b86a-0b66be1c29d2

Shiba Inu (SHIB) falls nearly 2% as a fresh 83 million token burn fails to lift demand, with open interest and volume sharply down.

Shiba Inu dropped almost 2% on Monday, extending a 7% weekly slide, even after a fresh burn of 83 million tokens—highlighting that supply‑side actions are not offsetting waning demand for the meme coin [3].

| At a glance | |
|---|---|
| Price | $0.00000462 |
| 24h change | –2% |
| Recent burn | 83.83 million SHIB |
| Catalyst | Large‑holder selling, falling open interest and volume |

## Price pressure despite the burn  
The token’s price settled at $0.00000462, just above the 78.6% Fibonacci retracement level and below the $0.00000538 resistance that marks the psychological $0.00000500 threshold. The 2% dip adds to a 7% decline recorded over the prior week, signaling continued bearish momentum.  

## Weakening retail demand  
CoinGlass data show SHIB open interest fell 13% in the last 24 hours to $42.80 million, while trading volume slumped 56% to $71.27 million. The funding rate dropped to 0% from 0.0092%, indicating reduced retail positioning. Analysts attribute the price weakness to large‑holder (whale) sell‑offs and a broader shift toward utility‑driven crypto projects, rather than the token burn itself. The 83 million‑token burn represents a tiny slice of the 589.2 trillion circulating supply, making its impact on scarcity negligible [2][3].

## Tokenomics context  
Shiba Inu’s circulating supply stands at roughly 589.2 trillion tokens, giving the coin a market cap of about $2.5 billion at current prices [1]. Even with the recent burn, the supply reduction is minuscule relative to the total, and the burn rate would require centuries to meaningfully affect price levels.

## What to watch  
- **$0.00000538 resistance** – a close above could revive bullish momentum.  
- **Open interest trends** – a sustained decline may signal continued retail disengagement.  
- **Future token burns** – monitor whether upcoming burns increase in scale relative to the massive supply.  

The price slide underscores that, for Shiba Inu, supply‑side measures alone cannot revive demand; broader market sentiment and retail participation will likely dictate the token’s near‑term trajectory.

## Sources
1. The Motley Fool — [Can Shiba Inu Reach $1 by 2027? The Answer Will Blow Your Mind.](https://www.fool.com/investing/2026/07/15/can-shiba-inu-reach-1-by-2027-the-answer-blow-mind/)
2. Cryptorank — [Shiba Inu Price Declines Despite 83M Token Burn as Demand ...](https://cryptorank.io/news/feed/28fc4-shiba-inu-price-decline-token-burn-demand)
3. Tmgm — [Shiba Inu Price Forecast: SHIB declines despite 83 million ...](https://www.tmgm.com/en/analysis/market-news/article/shiba-inu-price-forecast-shib-declines-despite-83-million-token-burn-as-demand-wanes-202608031015)

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Cite as: TrendWatcher, "Shiba Inu price slides 2% despite 83 million token burn", https://www.trendwatcher.in/article/f71c8f04-4cf4-4b92-b86a-0b66be1c29d2