Shiba Inu Burn Rate Rises 434% With Millions of SHIB Torched
Analysis
Price Impact
LowWhile a 434% rise in burn rate is significant, the actual number of shib burned (3.32 million) is relatively small compared to the total circulating supply, limiting immediate price impact. the weekly burn rate saw a drop, further diluting the positive news.
Trustworthiness
MedPrice Direction
NeutralThe recent price rebound of 2.08% coincides with the increased burn rate, suggesting a potential positive short-term reaction. however, shib is still down 8.8% weekly and has seen bearish price action, with momentum indicators in oversold territory. this suggests a potential for a relief rally but also continued downward pressure.
Time Effect
ShortThe immediate price reaction to the burn rate increase is short-term. the broader market conditions and the fact that the weekly burn rate is down suggest that any positive price impact may be fleeting unless sustained burn increases or positive market sentiment emerge.
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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. Shiba Inu burn rate saw a significant increase in the last 24 hours, rising 434.63% in this timeframe. The increase follows millions of SHIB sent to dead wallets, with the burn rate rising correspondingly. Advertisement According to the Shibburn website, 3.32 million SHIB were burned in the last 24 hours. Although this number seems small, it was much higher than the day before. Shiba Inu saw its largest burn figure of the week when 5.5 million SHIB were burned on June 24. In the last seven days, a total of 26.52 million SHIB were burned, albeit with a 36.39% weekly drop. HOT Stories Will Bitcoin (BTC) Return to $60,000? XRP's Risks of Losing $1, Shiba Inu's (SHIB) Bearish Pressure Is Weakening: Crypto Market Review OpenAI's 'Sol, Terra, Luna' Models Excite Crypto Community You Might Also Like Thu, 06/25/2026 - 13:00 Shiba Inu Sees Biggest Holder Growth Day in June Amid Market Drop By Tomiwabold Olajide Advertisement The weekly burn drop follows a bearish price action for Shiba Inu, which saw it drop four straight days before slightly rebounding. Meanwhile, the daily burn rate increase coincided with a rebound in Shiba Inu price . At the time of writing, Shiba Inu had returned to the green, up 2.08% in the last 24 hours to $0.000004266, according to CoinMarketCap data. Shiba Inu remains down 8.8% weekly. Shiba Inu hits oversold levels The market saw a drop earlier in the week as investors assessed May's personal consumption expenditures price index reading, the Federal Reserve's preferred inflation gauge, released on Thursday. Advertisement You Might Also Like Sat, 06/27/2026 - 03:00 281 Billion Shiba Inu (SHIB) Recorded in 24 Hours: Breaking Down the Implications By Arman Shirinyan The core inflation rate excluding food and energy prices hit an annual rate of 3.4% in May, the highest since October 2023, and on a monthly basis rose 0.3% from April. Shiba Inu has steadily declined since mid-June, marking only one green day out of 12 since then. The drop has pushed Shiba Inu momentum indicators below oversold levels. The daily RSI has fallen below the oversold level of 30, now sitting at 26. The market often rebounds when the RSI confirms oversold conditions; a reading below 30 by itself only indicates what has recently happened. In this regard, Shiba Inu may have yet to confirm oversold conditions, but the chances of a potential relief rally exist given the current oversold reading. #Shiba Inu (SHIB) News #Shiba Inu