A significant increase in shib burns, especially with participation from major exchanges like robinhood, coinbase, crypto.com, and binance, suggests increased utility and a reduction in circulating supply. this can theoretically lead to price appreciation due to scarcity, but the actual impact depends on the overall market sentiment and volume of burns relative to total supply.
Increased token burns reduce the circulating supply, which, in a demand-driven market, can lead to price increases. the article also mentions shib attempting a rebound and following bitcoin's trajectory, which is also bullish.
The data covers the 'past 24 hours' and mentions recent price movements, suggesting an immediate to short-term effect on price. however, the long-term impact depends on sustained burn rates and overall market trends.
Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. SHIB burns jump 172.52% Top SHIB burners that may surprise you SHIB attempts a rebound Advertisement The upgraded Shibburn portal has revealed a fresh list of top Shiba Inu burners over the past 24 hours. Some names on this list raise eyebrows, being some of the largest cryptocurrency trading venues in the crypto space. SHIB burns jump 172.52% According to Shibburn, during the past day, the daily SHIB burns have soared by more than 172%, with close to 10,000,000 SHIB coins burned in total. These millions of tokens were moved out of the circulation supply and locked in unspendable wallets. There have been four transactions so far, which carried 5,178,012, 4,000,000, 440,000, and 500,000 SHIB coins. Curiously, two of these burn transactions were conducted by large cryptocurrency market players – the investment app Robinhood and Stake.com, a crypto gambling platform. HOT Stories Bitcoin Surges Past $69K, $196M Worth of Shorts Liquidated XRP in Near-Zero Territory, Triple Bitcoin (BTC) Resistance Ahead, Cardano (ADA) Needs Shocking Capital Injection: Crypto Market Review For comparison, two days ago, SHIB burns were slightly bigger with 12,718,395 and 6,607,536 SHIB in single transactions. The goal of these burns is to reduce the SHIB supply, which, in theory, can help increase the SHIB price due to growing scarcity. Advertisement You Might Also Like Sun, 04/05/2026 - 10:18 Happy Birthday Satoshi: Bitcoin Creator Turns 51 This Day By Tomiwabold Olajide Top SHIB burners that may surprise you The top SHIB burners’ list shows that over the past few days, among the biggest burners of these meme coins have been the aforementioned platforms Robinhood and Stake.com, having burned 4,300,543 SHIB (in 24 transactions) and 5,178,012 SHIB in a single transfer. Aside from them, the list also shows such top crypto exchanges as Coinbase (5,176,736 SHIB burned in seven transfers), Crypto.com and Binance. Crypto.com has burned 11,000,000 SHIB in four transfers, while Binance has disposed of 2,909,767 SHIB, taking three burn transfers to achieve that. The largest number of SHIB of all, however, was burned by a whale that goes by the name “shib.shi4gud.eth”. He has destroyed a total of 96,867,921 SHIB in 23 burn transfers. However, since all these millions of SHIB are actually tiny amounts in fiat, these could have been just accidental burns. Advertisement Source: Shibburn SHIB attempts a rebound In the meantime, the major meme coin has demonstrated a sharp price surge over the past day as it rebounded by nearly 4% after a roughly the same drop over the weekend. However, the rebound was followed by a 2% decline. By now, SHIB has printed a large green hourly candle and is changing hands at $0.00000603. Shiba Inu has been following Bitcoin’s price trajectory – BTC has jumped by 4.76% since Sunday and has topped the $69,960 level. SHIB/USDT chart via TradingView #Shiba Inu (SHIB) News #Token Burn #Cryptocurrency exchange