Massive Token Burn Activity
Shiba Inu’s token burn rate has experienced an extraordinary surge, jumping by 2,033.51% over the past 24 hours according to data from Shibburn. During this period, a total of 5,700,223 SHIB tokens were permanently removed from circulation. This significant daily burn activity has contributed to broader increases in both daily and weekly burn metrics.
The weekly figures show even more substantial movement, with 69,854,289 SHIB tokens burned over the last seven days. This represents a 438.54% increase in the weekly burn rate. The pattern suggests that burn sentiment 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 been moving in sync with Bitcoin’s recent performance, with both cryptocurrencies gaining traction as potential safe-haven assets amid concerns about government shutdown developments. SHIB managed to climb for three consecutive days, reaching a peak of $0.00001289 on Friday before experiencing some pullback.
Current market data shows SHIB trading at $0.00001257, with modest gains of 0.13% over the past hour and 0.62% over 24 hours. The total market capitalization stands at approximately $7.4 billion, reflecting a 0.67% increase. The circulating supply remains substantial at 589 trillion tokens, though the burn mechanism continues to gradually reduce this number.
Technical Outlook and Price Targets
Shiba Inu has largely remained within a consolidation pattern for most of 2025, with market observers watching for potential breakout momentum in the fourth quarter based on historical seasonal trends. Since March, the token has oscillated within a broad range between $0.00001 and $0.0000176.
A decisive break above the $0.000017 level would signal an exit from this consolidation phase and potentially trigger movement toward higher price targets. The next significant resistance levels appear to be around $0.000025, followed by $0.000033 if bullish momentum continues.
On the downside, the $0.00001 level has provided substantial support, preventing SHIB from adding another zero to its price during previous market downturns in April and June. This level continues to serve as a critical psychological and technical support zone.
Developer Updates and Ecosystem Developments
In recent ecosystem news, Shiba Inu developer Kaal Dhairya provided an update regarding the Shibarium bridge incident. According to the developer, the 4.6 million delegation from the attacker has been neutralized through controlled contract upgrades and state cleanup procedures.
Work is currently underway to develop a comprehensive plan to make affected users whole while implementing mechanics that will allow safe bridging and withdrawal operations to resume. The development team appears focused on restoring confidence in the platform’s security and functionality following the incident.
While the token burn mechanism continues to reduce supply, the broader ecosystem developments and technical improvements suggest ongoing efforts to strengthen Shiba Inu’s position in the competitive meme coin space. The combination of supply reduction through burns and platform enhancements could potentially create favorable conditions for price appreciation, though market conditions remain the dominant factor.
