Shiba Inu drops 20% as burn rate slows and key support fails
Shiba Inu (SHIB)
Editor:
Eugene Serbin
bitcoinethereumnews.com reports that Shiba Inu erased over 20% of its late August gains, failing to hold above the crucial 200-day moving average of $0.0000069. The memecoin has been recovering lost ground in H2 2026 within a rising channel, but a bullish breakout remains elusive. Historical patterns suggest potential for rallies, with SHIB surging 70% in late 2023 and 165% in 2024.
Spot market demand has remained steady despite broader sell-offs, indicated by rising supply held outside exchanges. However, the burn rate dropped significantly, falling 98% to 1.8M tokens after nearly 100M were incinerated in early August. This contrasts with a 350% increase in the burn rate during July.
The broader memecoin index tracked by VanEck’s MarketVector has climbed 9% from recent lows. September could be a great accumulation period if pre-bull run patterns repeat. An extended rally would require reclaiming $0.000007, which acts as the 50-week MA and a key roadblock for 2026.
How the market reacted
Whalio's own Binance spot order flow for SHIB, measured when this story was written up on 1 September 2026. Not the outlet's figures.
SHIB is currently trading at $0.000005070 with a 24-hour buy ratio of 50.4%, indicating balanced activity over the full day. Shorter timeframes show weaker sentiment, with the 1-hour buy ratio at 46.6% and the 4-hour ratio at 41.1%. Volume delta reflects this short-term selling pressure, showing -$10,747 in the last hour and -$128,118 over four hours. Conversely, the 24-hour volume delta is positive at +$28,006, suggesting net buying has occurred over the longer period. Cumulative Volume Delta closed at -$107,744, meaning selling pressure outweighed buying pressure by that amount by the end of the period. Only 9 out of 24 hours saw net buying, highlighting inconsistent demand throughout the day.
The latest daily buy ratio of 45.6% sits at the 11th percentile of the last 322 days, against a median of 48.8% - weaker buying than most days.
Twenty-four hours later
What SHIB did over the 22 hours after the story broke. The market moves for its own reasons; this is what happened, not what the story caused.
Was that an ordinary day?
The same Binance spot measurements for SHIB, averaged over the days leading up to the story.
The current 24-hour buy ratio of 50.4% is slightly higher than the 7-day average of 49.9%, representing a 0.5 point increase. However, trading volume is only 0.66x the weekly average, indicating reduced participation compared to recent norms. Over the preceding week, the price dropped 7.3% with a total volume delta of -$207,724. This weekly context shows a clear trend of net outflows and price decline. Today's activity appears ordinary in terms of sentiment balance but unusual in its lower volume relative to the weekly norm.