Binance has completed its first quarterly token burn of 2026, removing over $1.27 billion worth of BNB from circulation. The burn, executed on January 15, consisted of 1,371,703.67 BNB via the Auto-Burn system and an additional 100.1 BNB through the Pioneer Burn Program. This marks the 34th quarterly burn in the token's history, reducing the total supply to approximately 136.36 million tokens as part of Binance's long-term deflationary strategy aiming for a 100 million token supply.
Concurrently, the Shiba Inu community has dramatically increased its burn rate. Data from the Shibburn tracking platform shows that 28,863,518 SHIB were burned in the past 24 hours, representing a 1,344% surge in the burn rate. The burns occurred in several transactions, the largest being a single transfer of 28 million SHIB by anonymous wallets. While the Shibarium network has an automated burn mechanism, no significant burns through it have been noted this year.
Market reactions to these events have been mixed. BNB was trading near $939 at the time of the burn, having gained roughly 5% over the preceding week. Technical indicators showed bullish momentum, with the MACD histogram above zero, though the Relative Strength Index at 64.36 suggested the token was approaching overbought territory. BNB futures Open Interest declined to $1.57 billion, indicating some profit-taking. Key resistance levels are seen at $950 and $1,000.
In contrast, SHIB's price has struggled to recover from a recent downturn. After a 7% drop on Sunday to a low of $0.00000783, a brief 4% recovery was immediately followed by another decline. At press time, SHIB was trading at approximately $0.00000788, largely mirroring broader market movements led by Bitcoin. Despite the price weakness, on-chain data revealed continued accumulation, with one previously dormant whale purchasing over 15.18 billion SHIB on Binance for long-term storage.
