SHIB has experienced a 5% decline over the past 24 hours, dropping to $0.00000951 as the broader cryptocurrency market faces a risk-off sentiment. This downturn coincides with Bitcoin trading below its 200-day simple moving average, contributing to the negative market environment. Despite a significant 139.46% increase in weekly token burns, aimed at reducing supply, SHIB's deflationary efforts were insufficient to offset the selling pressure. The situation was exacerbated by intensified whale activity, with over 40 billion SHIB tokens being transferred to exchanges, indicating potential further sell-offs.