Shiba Inu burn rate has increased by 2,033.51% in the last 24 hours, according to Shibburn. A total of 5,700,223 SHIB tokens were burned in the last 24 hours, contributing to an increase in daily and weekly burns.
In the last seven days, 69,854,289 SHIB tokens were burned, representing a 438.54% increase in weekly burn rate. The increase in weekly burn rate suggests that burn sentiment might be gradually picking up after a recent drop, which coincided with a market sell-off.
Shiba Inu rose alongside Bitcoin since Wednesday as cryptocurrencies gained safe-haven status amid the latest government shutdown. Shiba Inu rose for three consecutive days to reach a high of $0.00001289 on Friday before retreating.
What’s next for Shiba Inu?
Shiba Inu has broadly consolidated in a range for most of 2025, with eyes now on an explosive rally in Q4, as historical trends portray.
Since March, Shiba Inu has fluctuated in a broad range between $0.00001 and $0.0000176. A decisive break above $0.000017 would cause SHIB to exit its range and progress to its next major target above $0.00002, specifically at $0.000025 and then $0.000033.
Support is envisaged at $0.00001, which prevented Shiba Inu from adding an extra zero to its price tag in April and June, respectively.
In a recent update on the Shibarium bridge incident, Shiba Inu developer Kaal Dhairya informed that the 4.6 million delegation from the attacker has been neutralized through controlled contract upgrades and state cleanup. A plan is underway to make users whole and restart mechanics to allow users to bridge/withdraw safely.
