Shiba Inu’s burn tracker lit up this weekend as the community torched a fresh batch of tokens: 44.67 million SHIB were sent to dead addresses in the last 24 hours. This move pushed the daily burn rate up by a staggering 36,846.72%, according to on-chain tracker Shibburn. The raw number is eye-catching, and it gives holders something to cheer about, but in the world of Shiba’s enormous supply, context matters.
Price didn’t immediately follow the headline. SHIB is trading in the low microcents, roughly $0.00001002 at the time of reporting, and the token’s market capitalization sits around $5.9 billion. With nearly 585 trillion tokens circulating, a burn of tens of millions, while headline-worthy, is still a tiny fraction of the supply, so it’s not surprising markets barely budged on the news.
That said, the burn spike is part of a pattern the community watches closely. Over the past few days, there have been several notable incinerations, some single transactions and a cluster of burns that together moved hundreds of millions of tokens, and those events tend to spark short bursts of optimism among traders and social media chatter. Analysts and long-time observers, however, keep sounding the same note: occasional burns are good for narrative, but structural scarcity requires regular, large-scale reductions or a fundamental shift in demand.
Shiba Inu Price Outlook
Technically, traders looking at short-term structure will note a fairly tight range over the last few sessions: intraday lows have been sniffing around the ~$0.000009 area while intraday highs have pushed up toward roughly $0.000011–$0.000012, so those zones act as the immediate support and resistance battlegrounds to watch for the SHIB price.
Momentum and indicator readouts aren’t flashing a fresh trend reversal just yet. TradingView’s technical summary is neutral-to-bearish on the daily/weekly timeframes, with oscillators showing little conviction, and the broader weekly bias tilting toward sell. Meanwhile, volume snapshot points to diminished trading activity compared with recent days.
It is a sign that the burn’s narrative may be creating noise more than real buying pressure. In plain terms, the 44.7 million SHIB burned gives the story a short-lived bullish headline, but unless price breaks and holds above the $0.000011–$0.000012 resistance band on stronger volume, traders should treat any pop as a possible short-term squeeze rather than confirmation of a sustained uptrend.
In general, SHIB’s price action looks like what you’d expect from a meme token tied to wider crypto flows: it responds more strongly to Bitcoin (BTC) and Ethereum (ETH) moves, exchange listings, or big ecosystem updates (think layer-2 launches or major project updates) than to isolated burn events. In short, burns can be a short-term squeeze catalyst, but they rarely rewrite the long-term story by themselves.
For now, the burn is neatly packaged as a public relations win for the Shiba ecosystem; it hands the community another talking point and keeps the deflation conversation alive. Whether this episode becomes a footnote or a turning point depends on what follows: more burns, rising on-chain activity, or meaningful utility that drives real demand. Until then, traders will likely treat this as the kind of news that adds a little heat to the chat rooms and a little volatility to the charts, but not a guaranteed path to higher prices.
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