Shiba Inu Plunges to 95% Loss as Token-Burning Mechanism Fails to Revive Price

Shiba Inu (SHIB), once one of the largest meme coins by market capitalization, has plummeted to $0.00000473, a staggering 95% drop from its October 2021 all-time high of $0.00008616.

This collapse is particularly concerning as it forces holders to confront an uncomfortable question: whether this is a temporary bear market for speculative crypto assets or if the broader market has simply moved on from SHIB.

At the close of 2025, SHIB was trading near $0.000016, representing a 70% loss in value over just one year. Despite a recent bounce off multi-month lows, the asset has tumbled out of the top 30 cryptocurrencies by market capitalization, a stark reversal from its days as a top-15 asset.

One of the most frequently cited catalysts for a SHIB recovery has been its token-burning mechanism. However, the math has not worked in holders' favor, with the community burn tracker Shibburn reporting that 3.25 billion SHIB tokens were burned in July 2026, representing just over $16,500 at prevailing prices.

Moreover, a recent daily burn of 13.58 million SHIB tokens represented roughly 0.0000023% of the circulating supply, a figure many analysts consider purely symbolic.