The daily burn rate for Shiba Inu (SHIB) tokens has skyrocketed by 249.37% over the past 24 hours, according to data from the Shibburn tracker. This dramatic increase follows a period of consecutive negative days for the burn index. However, the total number of tokens burned remains relatively modest at 432,211 SHIB. The last significant burn event occurred three days prior, involving 2,943,898 SHIB coins.
The surge in burn activity coincides with bullish sentiment from within the Shiba Inu ecosystem. A pseudonymous crypto analyst known as "SHIB KNIGHT" shared a chart on X indicating that SHIB has broken out of a Falling Wedge reversal pattern. The analyst set a potential price target of $0.00001200, suggesting the meme coin could "burn one zero." Lucie, the official marketing lead for the SHIB team, publicly endorsed this prediction, stating she loves and supports the forecast.
Currently, SHIB is trading at $0.00000871, having reached a high of $0.00000912 earlier in the week before retracing. The combined narrative of accelerated token burns and technical breakout predictions is fueling community speculation about a potential price surge.
Separately, historical data presents a contrasting macro view for February 2026. Analysis from CryptoRank reveals a rare and potentially conflicting setup for both Bitcoin (BTC) and Shiba Inu. Historically, it is uncommon for both assets to post gains in February. Over the last four cycles, they simultaneously printed a green candle only once, in 2022. In other years, one asset typically rose while the other fell, or both declined.
Bitcoin statistically dominates February with an average return of +14.3% based on over a decade of data. SHIB, with fewer data points, shows an average return of +9.26% but is known for higher volatility, as evidenced by its stunning 41.3% gain in February 2024 while Bitcoin stalled.
Both assets surged in January 2026 (SHIB +25.9%, BTC +8.37%), creating a rare "double-bullish" entry into February. However, historical odds suggest one asset is likely to underperform. This tension is underscored by the SHIB/BTC weekly chart, which shows SHIB has lost over 93% of its value relative to Bitcoin since November 2021. The pair is now trading at its lowest level since SHIB's 2021 ascent, indicating that SHIB's explosive moves are often short-lived and detached from Bitcoin's broader market cycles.
