Massive Token Burn Activity
Shiba Inu’s token burn rate has experienced a dramatic increase over the past day, with data showing a 2,033% surge in burn activity. According to tracking platform Shibburn, approximately 5.7 million SHIB tokens were permanently removed from circulation in the last 24 hours. This substantial burn contributed to both daily and weekly burn metrics showing significant growth.
The weekly figures are equally impressive, with nearly 70 million SHIB tokens burned over the past seven days. That represents a 438% increase in the weekly burn rate compared to previous periods. This suggests that community sentiment around token burning might be gradually recovering after a recent decline that coincided with broader market selling pressure.
Price Movement and Market Context
Shiba Inu’s price has shown some positive movement recently, rising alongside Bitcoin as cryptocurrencies gained attention as potential safe-haven assets during government shutdown concerns. The token managed to climb for three consecutive days, reaching a high of $0.00001289 on Friday before experiencing a slight pullback.
Currently, SHIB is trading around $0.00001257 with a market capitalization of approximately $7.4 billion. The total supply remains substantial at 589 trillion tokens, though the recent burn activity represents a small but meaningful step toward reducing that figure over time.
Technical Outlook and Range Trading
For most of 2025, Shiba Inu has been trading within a relatively broad consolidation range between $0.00001 and $0.0000176. This range-bound behavior has characterized the token’s price action since March, with traders watching for potential breakout signals.
A decisive move above the $0.000017 level could potentially trigger a more significant upward move, with technical targets identified around $0.000025 and then $0.000033. On the downside, the $0.00001 level has provided solid support, preventing the token from adding another zero to its price during previous market declines in April and June.
Developer Updates and Ecosystem News
In recent ecosystem developments, Shiba Inu developer Kaal Dhairya provided an update regarding the Shibarium bridge incident. The developer confirmed that approximately 4.6 million tokens delegated by the attacker have been neutralized through controlled contract upgrades and state cleanup procedures.
Work continues on developing a comprehensive plan to make affected users whole while implementing mechanics to allow safe bridging and withdrawal operations. This incident highlights the ongoing challenges and learning experiences within the rapidly evolving Web3 space, where security and user protection remain paramount concerns for development teams.
The combination of increased burn activity, positive price momentum, and ongoing ecosystem development suggests that Shiba Inu continues to evolve beyond its meme coin origins, though the path forward remains uncertain given the volatile nature of cryptocurrency markets.
