SHIB burns surged 2,196% after 1,606,561 Shiba Inu tokens were sent to dead wallets in 24 hours, boosting the burn rate; weekly burns totaled 72,264,101 SHIB while Shiba Inu price slid about 13% amid broader Bitcoin weakness. One large transfer of 1,192,392 SHIB led today’s spike.
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SHIB burns rose 2,196% in 24 hours after 1,606,561 SHIB were transferred to dead wallets.
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Weekly burns hit 72,264,101 SHIB while weekly burn volume fell 29% by count.
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Shiba Inu price dropped ~13% week-over-week; Bitcoin’s 8.32% decline pressured the market.
SHIB burns spike 2,196% as 1.6M SHIB are burned; Shiba Inu price falls 13%. Read the latest data and actionable insights for holders. — Read now
What are SHIB burns and why do they matter?
SHIB burns are transfers of Shiba Inu tokens to unspendable or dead addresses that permanently remove supply from circulation. Burns can reduce circulating supply, potentially supporting scarcity, but price impact depends on market context and demand.
How did SHIB burns increase 2,196% in 24 hours?
Data from blockchain wallet tracker Shibburn (plain text reference) shows 1,606,561 SHIB sent to dead addresses over the past 24 hours. A single large transfer of 1,192,392 SHIB accounted for the majority of this spike.
Weekly figures show 72,264,101 SHIB burned, though weekly burn count data declined 29% versus the prior week, suggesting concentrated large transfers drove the 24-hour percentage change.
How has Shiba Inu price reacted to recent market moves?
Shiba Inu price has fallen roughly 13% since last Thursday after peaking near $0.00001417. At the time of reporting, SHIB trades at approximately $0.00001226, with a 24-hour decline near 3.22%.
Market-wide weakness led by Bitcoin — down roughly 8.32% over the past week — has weighed on meme coins, including SHIB. Price changes reflect both macro sentiment and token-specific supply events.
Quick summary table: Burns and price movement
| Metric | 24 hours | 7 days |
|---|---|---|
| SHIB burned (total) | 1,606,561 SHIB | 72,264,101 SHIB |
| Largest single burn (today) | 1,192,392 SHIB | — |
| Percentage change (burn rate) | +2,196.63% | -29% (by count) |
| Shiba Inu price | $0.00001226 (≈ -3.22% 24h) | ≈ -13% 7d |
| Bitcoin movement | n/a | ≈ -8.32% 7d |
Why did price fall despite increased burns?
Burns reduce supply but do not guarantee short-term price appreciation. The recent burn spike was concentrated and may not change circulating supply materially versus market depth. Broader market selling pressure, led by Bitcoin, appears to have had a stronger near-term effect on SHIB price.
Frequently Asked Questions
How many SHIB were burned in the last 24 hours?
1,606,561 SHIB were transferred to dead addresses in the past 24 hours, with the largest single transfer at 1,192,392 SHIB, according to on-chain tracking data from Shibburn (plain text reference).
Will burns make SHIB price go up?
Not necessarily. Burns can support scarcity over time, but price depends on demand, market sentiment, and broader cryptocurrency trends; concentrated burns may have limited immediate impact.
Where can I verify burn data?
Verify burn totals via blockchain wallet tracker listings and on-chain explorers; plain text reference sources include Shibburn for aggregated SHIB burn metrics.
Key Takeaways
- Burn spike: A 2,196% jump reflects concentrated transfers, not sustained continuous burns.
- Price context: Shiba Inu fell ~13% week-over-week, influenced more by Bitcoin’s decline than burns alone.
- Action: Monitor weekly burn trends and market sentiment before drawing conclusions on long-term scarcity effects.
Conclusion
SHIB burns spiked dramatically due to concentrated transfers, while Shiba Inu price slipped amid market-wide declines led by Bitcoin. Monitor ongoing burn totals, weekly trends, and macro indicators to assess whether token-supply changes will have durable price implications. For continuing coverage, COINOTAG will update this report as new on-chain data arrives.
