Shiba Inu Drops 10% In 7 Days: What Is Going On?
Shiba Inu SHIB/USD is down 10% over the past week but continues to attract bullish forecasts from traders, driven by its aggressive token burn rate and high concentration in whale holdings.CryptocurrencyPrice Market Cap24-Hour Trend7-Day TrendShiba Inu SHIB/USD$0.00001263$7.4 billion-2.7%-9.7%Dogecoin DOGE/USD$0.1705$25.4 billion-2.4%-6.6%Pepe PEPE/USD$0.058064$3.4 billion-2%-12.3%Trader Notes: In an X post on May 4, crypto trader Javon Marks reiterated his bold call for SHIB to hit $0.000081, a nearly 500% gain from current levels.Trader Illusion X, called SHIB his "next big pick" for this cycle, projecting a 10x–15x move and urging accumulation.Statistics: Shibburn data shows SHIB’s 24-hour burn rate jumping by 278.4%, with 2.2 million tokens incinerated in a single transaction just hours ago. The total weekly burn now stands at 313.95 million SHIB, a sign of consistent deflationary pressure that could boost price over time.IntoTheBlock data shows Shiba Inu large transaction volume expanded by 8.9% while daily active addresses narrowed by 12.6% in a single day. Transactions greater than $100,000 increased from 38 to 43. SHIB whales still control 74% of the supply, underscoring continued long-term conviction among big holders.Shiba Inu's Layer-2 network Shibarium has seen volatile usage, with daily transactions now at 3 million, bouncing back after a sharp 2-million drop. However, it has yet to reclaim its previous high of 4 million transactions.Read Next: Shiba Inu’s Shibarium Is Booming — Here’s What’s Driving the 54% Transaction Surge Image: ShutterstockMarket News and Data brought to you by Benzinga APIs© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.