Shiba Inu’s burn narrative shifted sharply in the latest reporting period. An early snapshot showed only 17,271 SHIB removed from circulation—worth roughly ten cents, or about 0.00000000295% of circulating supply—which raised doubts that the burn could explain a 3.13% daily gain to $0.00000593. Updated Shibburn data later told a different story: 297.68 million SHIB were burned in 24 hours, a 6,847.52% increase in burn rate. A single transfer removed 297,572,672 SHIB, while additional burns included 111,542 SHIB from Uniswap, 2,622,378 SHIB from Coinbase, 179,289 SHIB from Robinhood, and other smaller transactions.
Over the past seven days, 394.28 million SHIB have been burned, lifting the weekly burn rate by 1,821.15%, while the 30-day total reached 666.97 million SHIB. Despite the supply reduction, SHIB was down 0.95% over 24 hours at $0.000005893 at the time of writing and remained up 2.09% for the week.
The SHIB ecosystem also saw an expansion: SHIB went live on Solana through Sunrise and became available in Solana-based DeFi apps including Jupiter, Raydium, Phantom, and Kamino. This allows traders to access SHIB directly within Solana’s DeFi ecosystem without leaving the network.
Technical signals added to the story. A long-anticipated daily golden cross appeared for SHIB for the first time in almost two years. The prior golden cross, in November 2024, preceded a December 2024 high of $0.0000334. Broader market action remained choppy as investors awaited Federal Reserve minutes, with traders pricing a 78% chance of unchanged rates at the next Fed meeting. SHIB’s market capitalization stood at about $3.49 billion with $87.7 million in 24-hour trading volume. The token remains 93.12% below its October 27, 2021 all-time high of $0.00008616.
