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Shiba Inu Falls 5% Despite 110M Token Burn, Largest in 6 Months on July 8

Capital Flow Price Volatility

2026-07-09 10:47:19

SHIB1.91%

MEME2.32%

According to Shibburn, 110 million SHIB were burned on July 8, marking the largest single-day burn in six months. The weekly burn rate reached 152 million SHIB, up 55.77% from the previous week. However, SHIB declined 5% over the same period, suggesting token burns alone are insufficient to counter broader memecoin market weakness. Capital outflows from the memecoin sector, which has fallen from 10% to 3.7% of total altcoin market cap since Q4 2024, continue to outweigh supply reduction efforts.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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