#DOGE In the last 24 hours, over 7 million SHIB tokens have been burned, raising market attention on the future trend of Shiba Inu. This burning action is part of the SHIB deflationary model, which aims to reduce circulating supply by permanently removing a portion of tokens from transaction fees. Although the number of tokens burned this time seems insignificant compared to the total supply, the ongoing burning efforts help alleviate selling pressure and enhance the long-term scarcity of the token.

However, SHIB's recent performance has not been ideal. In the past week, its value has dropped by 10.7%, which aligns with the overall adjustment trend in the cryptocurrency market following the Federal Reserve's latest interest rate cut decision. Notably, other well-known meme coins like Dogecoin and Pepe Coin have experienced even greater declines of around 17%, indicating that the current market is undergoing a broad adjustment.
Nevertheless, the trading activity of SHIB has seen a significant increase, with a trading volume surge of 41% in the past day. If this trend continues, it could lead to a higher frequency of Token burns, further reducing the Circulating Supply of SHIB.
Currently, the price of SHIB has fallen below a key support level, and market participants are closely watching whether it can stabilize and rebound. Although the price trend remains unclear in the short term, the ongoing operation of the token burning mechanism may provide some support for SHIB's long-term value. Investors need to weigh short-term market fluctuations against long-term deflationary effects and carefully assess the investment value of SHIB.