59.4 Million SHIB Burned as Price May Track Bitcoin’s Recent Upswing

• 59,405,917 SHIB transferred to unspendable wallets this week

• Weekly burn rate down ~42%; daily burn rate up 13.71%

• SHIB price surged 11.52% in one day, topping $0.00001350 before retracing

SHIB burn, Shiba Inu price: 59.4M SHIB moved to wallets; price jumped 11.5% with Bitcoin — read the full analysis and key takeaways.

What is the latest SHIB burn update?

SHIB burn activity over the past seven days recorded 59,405,917 SHIB transferred to anonymous/unspendable wallets, according to wallet tracker Shibburn. Although large transactions included three chunks of 27,062,451 and two transfers of 10,000,000 SHIB, the overall weekly burn rate declined near 42% while daily burns improved.

How did the SHIB burn and price move this week?

Shibburn data shows concentrated transfers totaling 59.4 million SHIB in seven days. The largest movements were 27,062,451 SHIB, 10,000,000 SHIB and 10,000,000 SHIB to burn addresses.

Despite these transfers, the weekly burn rate fell roughly 42%, indicating lower net removal versus previous weeks. Conversely, the daily burn rate rose 13.71%, driven by smaller frequent burns. Net amount moved to unspendable addresses in the latest daily snapshot was 79,519 SHIB.

How does SHIB price correlate with Bitcoin and market news?

The Shiba Inu price rose 11.52% on Friday, mirroring Bitcoin’s rally, and printed several consecutive hourly bullish candles, one delivering a 4.85% intraday jump. SHIB reached a local high of $0.00001350 before a pullback of about 3.68% and a modest recovery to $0.00001330.

Price momentum came amid a broader market lift after Federal Reserve Chair Jerome Powell indicated the Fed may lower interest rates slightly next month. That macro development helped Bitcoin push higher and Ethereum reach new highs for the first time since November 2021, supporting altcoin strength including SHIB.

What does this mean for investors and traders?

Short-term price gains driven by macro cues and correlated BTC strength do not necessarily reflect structural supply reductions from burns. The weekly decline in burn rate suggests limited long-term supply impact from the recent transfers. Traders should weigh on-chain burn trends alongside market liquidity and macro developments.

Frequently Asked Questions

How many SHIB were burned this week?

Shibburn reports 59,405,917 SHIB moved to anonymous/burn addresses over the past seven days, with the three largest transfers totaling 47,062,451 SHIB combined.

Did the SHIB burn cause the price surge?

Not directly; the SHIB price surge coincided with a Bitcoin-led market rally after a Fed interest-rate signal. Burn transfers were notable but the weekly burn rate actually declined, so price action was primarily market-driven.

Key Takeaways

• Large transfers noted: 59.4M SHIB moved to anonymous wallets, led by three big chunks.
• Burn rate disparity: Weekly burn fell ~42% while daily burn improved 13.71%.
• Price correlation: SHIB’s 11.5% surge tracked Bitcoin strength and macro news, not a sustained burn-driven supply shock.

Conclusion

Recent on-chain activity shows notable SHIB movements but a mixed burn-rate picture: large transfers contrasted with a lower weekly burn rate. Shiba Inu’s price jump of 11.52% was largely market-driven, aligned with Bitcoin gains after Fed commentary. Monitor burn trends, on-chain liquidity, and macro signals for a clearer outlook.