Recent data reveals concerning trends for Shiba Inu (CRYPTO:SHIB) and its blockchain platform, Shibarium.

Daily blocks and transactions on Shibarium have plummeted by over 50%, indicating a significant decline in network activity compared to earlier highs.

Additionally, SHIB's burn rate surged dramatically amid market volatility, contributing to a 1.3% drop in its price over the past 24 hours and a 4% decline over the week.

These developments emphasises growing challenges for SHIB amid broader market uncertainties in the cryptocurrency sector.