Shiba Inu Rally Stalls as RLUSD Burns and NIGHT Surges on Cardano

Shiba Inu’s price rally stalls amid a heavy exchange sell wall while RLUSD burns reduce circulating supply; the NIGHT token on Cardano surges with $4B 24h volume, outpacing XRP and Solana.

Rich by Coin

2025-12-23

Shiba Inu rally stalled by enormous sell wall. Shiba Inu faces persistent supply pressure despite modest exchange outflows. There are currently about 81.5 trillion SHIB sitting on exchanges, a level that explains why upside momentum is so difficult to sustain. Any rally is met with a huge wall of possible sell pressure right away.

There is some advancement in favor of bulls, though. Exchange reserves have slightly declined over the last 12 months, with a total reduction of about 500 billion SHIB. On Dec. 19, 500,000 RLUSD was sent to the Ethereum null address (0x000) with a successful status on Etherscan, a classic burn pattern that removes tokens from circulation. The timing is also interesting because RLUSD is already trading with real activity for a young stablecoin, with CoinMarketCap data showing about $107.37 million in 24-hour volume, around 6,760 on-chain holders and a No. 8 slot among stablecoins by market cap.

NIGHT TOKEN OUTPACES XRP AND SOLANA. A single token built on Cardano is out-trading both XRP and SOL, with 24-hour trading volume surging to about $4 billion. The NIGHT token officially launched Dec. 8 and quickly listed on Kraken, Bybit and Cardano DEXs, with Hoskinson calling the debut an incredible success. He predicted higher TVL and MAUs as Midnight’s privacy features unlock more activity. He stated that private prediction markets, stablecoins, and DEXes are desirable outcomes as Midnight ramps up.