While most meme coins have seen impressive gains in recent weeks, Shiba Inu (SHIB) continues to lag behind. Despite a modest recovery from its lows, SHIB remains one of the underperformers in the crypto space.
SHIB Trails Behind PEPE and DOGE
As of Thursday, Shiba Inu Price trading at $0.000015, marking a 46% increase from its year-to-date low as per Coinpedia Market data. However, this performance pales in comparison to its peers:
- Pepe (PEPE) surged by 177%
- Dogecoin (DOGE) climbed 85%
- Solana-based meme tokens like Bonk, Fartcoin, and Trump Coin have also posted stronger gains
Whale Activity Signals Weakness
One major reason for SHIB’s weak performance appears to be whale selling. Data from Santiment reveals that the total supply held by large holders has dropped to 725.45 trillion tokens, the lowest level since January. Since January 19, whales have sold off over 18 billion SHIB tokens, showing a loss of confidence among large investors.
Bearish Signals from Dormant Token Movement
Another concerning sign comes from the Mean Dollar Invested Age (MDIA)—a metric that tracks how long tokens stay unmoved in wallets. SHIB’s 180-day MDIA has decreased from 115 to 110 days since April. This means older tokens are now being moved, which is generally viewed as a bearish indicator.
Trading Volume Falls Behind Rivals
Investor demand for Shiba Inu has also weakened. According to CoinGecko, SHIB’s 24-hour trading volume was just $472 million on Thursday. In comparison:
- Dogecoin recorded $3.64 billion
- Pepe saw $3.4 billion
- Even smaller tokens like Bonk, Dogwifhat, and Moo Deng posted higher volumes
Burn Rate Drops to Unusually Low Levels
Shiba Inu’s token burn rate—a process meant to reduce supply—has slowed significantly. The daily burn rate dropped 11.5% to 13.5 million tokens, and fewer than 50 million SHIB tokens were burned in the past five days. This low figure adds to the overall bearish tone.
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