Woofun AI reports that the SHIB burn rate increased by 434%, while daily trading volume fell 15% across the broader crypto market. The Fear and Greed Index stands at 17, indicating Extreme Fear conditions.

Technical indicators remain bearish with the Relative Strength Index near 30.3 and downward-pointing MACD lines. Bitcoin dominance exceeds 56%, reducing demand for alternative assets like SHIB. Short-term charts show consolidation, but sellers continue to control price action.