Shiba Inu (SHIB) Price Drops 5% This Week as Volume and Burn Rates Decline

Meanwhile, Remittix (RTX) is catching fire in the crypto space. Its real-world payment utility and rapid presale growth have sparked 100x projections.

Shiba Inu price slipped further this week, dropping 5% as volume and burn rates continue to decline, signaling that the heat on SHIB is turning up.

The apex meme coin slid to around $0.000015, testing the lower Fib level from the March/April rally. It’s a stark contrast to Dogecoin, which saw a 24-hour volume of $2.8 billion on CoinMarketCap at press time. Even newer meme coins like Pepe and Bonk clocked in higher volumes.

For perspective, even low-cap coins such as Official Trump and Dogwifhat are now registering greater daily volume, highlighting the relative disengagement with SHIB.

This lack of interest carries over to the derivatives market, where SHIB’s open interest in futures has fallen from a recent high of $272 million on May 11 to just $216 million.

Considering the level of interest meme tokens like PEPE continue to attract, that’s a steep drop. Low open interest often signals reduced speculative activity, fewer traders placing big bets, and less liquidity flowing into the token.

Another pain point is the sharp dip in SHIB’s burn rate. Just 3.3 million tokens were burned on Sunday, marking a 78% drop compared to earlier. Burns have long been a sentiment booster for the Shiba Inu community, usually coinciding with price spikes. This slowdown suggests that fewer people are engaging with tokenomics-driven supply cuts, and it's reflected in the sliding price action.

Shibarium dApps Are Seeing Outflows As TVL Drops

The Shibarium network saw its total value locked (TVL) decline from $3.98 million to $3.41 million in a week, according to DeFi protocol aggregator Defi Llama.

The TVL started the year strong, hitting a high of over $13 million in January. However, it has been sliding steadily since then, and this latest drop is continuing the downward trend.

The decrease in TVL might be due to users withdrawing funds from Shibarium dApps, such as ShibaSwap and K9 Finance. These dApps are built on the Shibarium network and offer various DeFi services, such as liquidity provision, yield farming, and borrowing/lending.

Shiba Inu bulls are pointing to the weekly chart forming a double bottom at $0.00001076—a pattern that usually predicts a breakout after a period of consolidation.

However, this upside potential remains theoretical unless there's a strong shift in sentiment towards Shiba Inu, which could be sparked by a decisive break above the 50-week moving average at $0.00001340.

A Harmonic XABCD Pattern Could Send SHIB Price Up 227%

On the other hand, SHIB price is showing signs of a bullish XABCD harmonic pattern on the four-hour chart. This pattern is incomplete but could send the apex meme coin price up to $0.04618, a 227% jump from the last pivot point at $0.000015.

For this pattern to play out completely, SHIB price would need to rally above the 50-week moving average and close a candle above the Fib retracement level of 0.382 at $0.00001340.

This move would complete the XABCD pattern and could be followed by a rally to the Fib retracement level of 0.618 at $0.04618, which is the last pivot point for the March/April rally.

However, if SHIB price fails to break above the 50-week moving average and the Fib retracement level of 0.382, then the XABCD pattern will not form, and the apex meme coin price could continue to fall.

Overall, SHIB price is currently in a holding pattern, and traders will be watching closely to see whether this is another lull in the apex meme coin's bullish trend or the beginning of a larger retreat.

As the meme coin market seems to be running out of steam, capital is pivoting toward new plays that offer more room for growth.

Projects like Remittix, which is backed by real-world use cases and fresh tokenomics, are now drawing attention from those aiming for 100x returns—something that SHIB, in its current consolidation phase, isn't really offering.

Early RTX Techs Positioned Well For A 100x Return As Global Paymetns Gig Stirs

While Shiba Inu stalls and struggles to regain momentum, another project is quietly making waves in a domain that matters—real-world utility.

Enter Remittix, a global payment solution that is heating up the crypto scene with its