7.64 Million SHIB Burned in Hours as Shiba Inu Deflation Mechanism Continues
Analysis
Price Impact
LowWhile token burning reduces supply, the amount burned in this specific period (7.64 million shib) is a very small fraction of the total circulating supply. this deflationary pressure is unlikely to cause a significant immediate price impact on its own.
Trustworthiness
HighPrice Direction
NeutralAlthough the burning mechanism is a positive factor for long-term supply reduction, the immediate price action is influenced by broader market sentiment, technical indicators (still bearish with lower highs/lows), and key resistance levels ($0.000005, $0.00000622). the current price rebound appears to be tied more to overall market recovery and weaker us employment data than to the burn news alone.
Time Effect
ShortThe impact of this specific burn event is likely to be short-lived. while continuous burning is beneficial, the significant price movements would require much larger, sustained burn rates or a strong shift in overall market demand.
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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 has seen 7.64 million tokens burned in the last 24 hours as token burning continues. According to the Shibburn website, the Shiba Inu burn rate has risen 53.53% over the past day, with 7.64 million tokens burned in this timeframe. Advertisement The weekly burn rate has also returned into the green, up 18.66% in the last seven days, with 24.79 million SHIB burned. In the last 30 days, 97.61 million SHIB were burned, resulting in a 27.13% spike in the monthly burn rate. In total, 410,840,195,346,382 SHIB worth $7,358,038,968 have been burned in 21,048 transactions. You Might Also Like Mon, 06/22/2026 - 09:50 Just $13 SHIB Burned in 24 Hours: What's Behind Shiba Inu Burn Rate Drop of 74% By Tomiwabold Olajide HOT Stories MiCA 2026: Is It Over for Crypto in Europe? XRP's Hopes for $1.5 Are Not Empty: Can Shiba Inu (SHIB) Take Back $0.000005? Solana (SOL) on Verge of Breakthrough: Crypto Market Review As reported, Shiba Inu was closing in on 1.6 million holders as July saw fresh growth in wallet addresses. Advertisement Shiba Inu rebounds The market is largely in the green in holiday weekend trade amid the Fourth of July celebration in the US. Shiba Inu was also trading in the green, up 1.66% in the last 24 hours and up 3.35% weekly to $0.0000044. U.S. June employment data came in weaker than expected, reducing bets that the Federal Reserve might increase rates again and weakening the dollar against most major currencies. You Might Also Like Sat, 04/11/2026 - 12:13 Shiba Inu Extends Price Rally Amid 237% Surge in Burn Activity By Caroline Amosun Advertisement Traders betting against a price increase in the last 24 hours lost $170 million to liquidations, compared to $43.7 million in longs, totaling over $213 million in liquidations according to CoinGlass data. Meanwhile, CoinMarketCap's "Altcoin Season" indicator is at 50/100, staying in the neutral zone it has been in for the past month as the market awaits a return to risk-on sentiment. However, the broader market structure remains bearish across the majority of crypto tokens following a succession of lower highs and lower lows. For Shiba Inu to reverse the downtrend, it needs to trade back above its 50 and 200 daily moving averages at $0.000005 and $0.00000622, with a potential return to $0.000015 if buying pressure is sustained. #Shiba Inu (SHIB) News #Shiba Inu #SHIB