10,620,000,000 in 24 Hours, Shiba Inu Sets Unexpected Volume Record

Shiba Inu's Trading Volume Plummets Amid Ongoing Price Decline

Shiba Inu (SHIB) has seen a sharp drop in trading volume over the past 24 hours as the meme coin continues its downward price trend. Despite strong community optimism, SHIB failed to sustain momentum, falling below the $0.000013 support level.

Data from CoinMarketCap reveals a 12.3% decline in SHIB's trading volume, settling at $135.73 million. This equates to 10.62 billion SHIB tokens traded—one of the steepest drops among altcoins. The decline signals ongoing struggles for the dog-themed cryptocurrency as investors watch market movements closely.

Heightened volatility pushed SHIB to a low of $0.00001272 before a slight recovery. The token currently trades at $0.00001283, up just 0.43% in the last day.

The unusually high volume of 10.62 billion tokens traded contrasts with broader altcoin performance. Even Dogecoin, the leading meme coin, saw an 8.78% drop in trading volume to $979.47 million.

This sudden decline may have triggered large holders to exit positions, either to lock in profits or rebalance portfolios.

Additionally, SHIB's token burn mechanism—intended to reduce supply—has slowed significantly. The burn rate plunged 20.64% in the past 24 hours, with only 16.46 million SHIB destroyed.

Historical trends show June has consistently been a bearish month for SHIB, with the token never closing the month in positive territory.

Technical indicators offer little hope for a reversal, with most metrics still flashing bearish signals.

Despite these challenges, traders remain hopeful for a potential 2025 rally, viewing the current slump as a consolidation phase before the next upward move.