What happened?
Shiba Inu fell about 4% in the past 24 hours while its burn rate spiked roughly 958%, with over 11.3 million SHIB removed from circulation. Investors were surprised because this drop came even as T. Rowe Price filed for the first U.S. spot Shiba Inu ETF. Despite the sell-off, daily trading volume is still around $100 million, but SHIB hit a yearly low and momentum looks weak.
Who does this affect?
Short-term traders and holders feel the pain from the price drop and thin liquidity, which makes moves more volatile. Institutional investors might be watching the ETF filing as a potential long-term catalyst, but they’ll also be cautious given current market weakness. Meanwhile, rising rivals like Maxi Doge—pulling in fresh capital and offering high staking yields—are grabbing attention and shifting where new money flows.
Why does this matter?
The huge burn spike could be bullish if sustained because it trims supply, but weak momentum and low liquidity mean SHIB can still slide further. An approved spot ETF would likely bring more institutional capital and stability over time, so the filing is a big potential market mover. If liquidity keeps shifting to BTC, ETH, or new meme projects like Maxi Doge, SHIB could face prolonged pressure as traders reallocate capital across the market.