Shiba Inu's official X account sparked a backlash this week after asking followers where the meme coin has its strongest presence — a question inspired by Spain's FIFA World Cup victory. The post was meant to be lighthearted, but the community didn't laugh. Instead, users flooded the replies with criticism, telling the team to drop the marketing stunts and focus on building the ecosystem.
Price stuck in the mud
SHIB is trading at roughly $0.000004272. That's a 72% drop from a year ago, though the token has managed a 4% gain over the past seven days. The numbers tell a story of a coin that can't shake its downward trend, even as the broader crypto market shows signs of life.
One user, Mehmet, didn't hold back. He expressed regret over his investment and called the team out by name, labeling LEASH 'trash' and pointing to falling values for LEASH, TREAT, and BONE — the other tokens in the Shiba Inu ecosystem. Some community members went further, calling the project a scam and a dead project.
Burn rate jumps, but supply still massive
The team has been leaning on token burns to create scarcity. Over the last month, the burn rate increased by 280%, meaning more SHIB tokens were sent to dead wallets. That's a positive signal for holders who hope reduced supply will eventually push the price up.
But the supply remains enormous. Even with the accelerated burning, the total circulating supply is still in the quadrillions. Analysts within the community say the project needs to burn far more aggressively to make a real dent.
Exchange reserves hit a five-year low
On the plus side, SHIB's exchange reserve has dropped to a fresh five-year low. That means fewer tokens are sitting on exchanges ready to be sold. Lower exchange supply typically reduces immediate selling pressure, which could help stabilize the price if demand picks up.
Still, the combination of a massive supply and a skeptical community leaves the token in a tough spot. The burn rate is climbing, but so is the frustration.
The team hasn't responded publicly to the criticism. The next major test for Shiba Inu will be whether it can deliver on ecosystem development — or whether the community's patience runs out first.
