Shiba Inu (SHIB) has seen its price jump almost 40% today, and the network is also experiencing a significant decrease in the total number of SHIB coins in circulation. Over the last 24 hours, over 401 million tokens have been burned – permanently removed from the supply – representing a massive increase of 5,223.98% in the burn rate, as tracked by the SHIBBurn portal.
A surge in activity dramatically changed the recent weekly data, which had previously been quite calm. In the last week, the rate at which SHIB tokens were burned increased by an incredible 816%, taking 457,511,537 SHIB out of circulation.
Decoding SHIB’s 5,223% overnight burn rate spike
The latest numbers are quite striking: nearly all the tokens burned this week were destroyed in just the last 24 hours. What’s especially notable is that the burning process hasn’t paused – in the last hour alone, over 34 million tokens were sent to a special address for permanent removal from circulation.
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Meanwhile, trading was incredibly chaotic. SHIB saw a significant daily increase of 27.14%, and briefly surged as high as 36% during the most intense period.
SHIB ended the day at $0.00000540. With over $700 million traded, its market value rose to approximately $3.18 billion, pushing it back into the top 25 cryptocurrencies on CoinMarketCap.
It’s crucial to look at this logically and understand what truly impacts the price. While hundreds of millions of SHIB tokens have been burned, that amount is too small to noticeably affect the coin’s value. With a total supply still exceeding 589 trillion tokens, the burn represents only a tiny fraction.
Actually, things happened the other way around. Increased trading activity and the resulting transactions caused the spike in volume. However, the massive 5,223% increase also had a strong psychological effect on those who already owned the asset.
Right now, everyone is watching how much SHIB costs on different crypto exchanges. The big question is whether recent gains will continue if new people start buying, or if existing owners will sell to take profits, potentially dropping the price back down to around $0.000004.
2026-07-26 19:01