Shiba Inu posted a 9.12% gain over the last seven days, while token burn activity also moved higher. The latest figures show that more than 4.99 million SHIB were burned in the past 24 hours, a rise of 20.86%. On a weekly basis, though, the picture was softer: total burned supply reached 17.32 million SHIB, down 14.42% from the previous period.
Fear reading stays low as SHIB trades near bear-market levels
CoinMarketCap data puts the Crypto Fear and Greed Index at 20, leaving the broader market in fear territory. Major cryptocurrencies, including SHIB, are still trading close to multi-year lows. At the time of the report, SHIB changed hands at $0.000004971, up 1.23% on the day.
Earlier in the week, the token fell for two straight days and touched $0.00000456 before rebounding and ending the week in positive territory. That marked a reversal from the prior week, when SHIB had dropped nearly 15% and set a fresh bear-market low at $0.00000433.
Futures volume drops while open interest holds steady
Derivatives data showed a restrained market. According to CoinGlass, 24-hour crypto futures trading volume fell 31.05% to $120 million, while total open interest stayed around $105 million. That points to traders keeping existing positions on rather than adding large new bets.
For SHIB specifically, open interest increased 0.72% over the last 24 hours to $36.22 million. Trading volume for SHIB derivatives rose 7%, suggesting some pickup in activity, but not a broad shift in risk appetite.
Kusama returns on X and Mercari adds SHIB support
Two developments inside the Shiba Inu ecosystem also drew attention this week. Shytoshi Kusama, identified in the report as Shiba Inu’s lead ambassador, became active again on X after weeks of silence. He updated his profile description to mention an AI-focused application and website, saying the beta site for the R.OS project is complete and going through final error checks.
The second update came from Japan’s online marketplace Mercari, which added Shiba Inu to its list of supported cryptocurrencies. The report said Mercari’s 23 million monthly users now have direct access to the token. Burn data improved and price action recovered on a weekly basis, but sentiment and futures positioning still reflected a cautious market.