The Shiba Inu community witnessed a dramatic increase in token burns over the past 24 hours, as more than 297 million SHIB were removed from circulation. According to data from Shibburn, the burn rate soared by 6,847% compared to the previous period, underlining renewed activity in one of the world’s most popular meme coins.
Record-breaking token burns
Token burns help reduce the circulating supply, an action often seen as supportive for price stability or potential appreciation. Shibburn reported a total of 297.68 million SHIB burned within a single day, marking a significant daily increase. This spike was propelled primarily by a single transaction that removed 297,572,672 SHIB from circulation, alongside additional burns from platform wallets including Uniswap (111,542 SHIB), Coinbase (2,622,378 SHIB), and Robinhood (179,289 SHIB).
Shibburn highlighted that “the burn rate reached 6,847.52% in just 24 hours, led by a major transaction exceeding 297 million SHIB.”
Over the past seven days, the cumulative burn amounted to 394.28 million SHIB, representing a weekly surge of more than 1,821%. For the month, the total reached 666.97 million SHIB tokens eliminated from the supply.
SHIB expands to Solana ecosystem
In a notable development for accessibility, Shiba Inu has become available on the Solana blockchain through integration with Sunrise. This move enables SHIB to be accessed and traded directly in various Solana-based decentralized applications, including Jupiter, Raydium, Phantom, and Kamino, broadening its reach within decentralized finance (DeFi).
Mini dictionary: Sunrise is a bridge protocol on Solana designed to connect external tokens, enabling assets like SHIB to be integrated into Solana’s DeFi apps without needing to exit the network or rely on centralized exchanges.
With Sunrise’s integration, users can now trade, swap, and utilize SHIB within the Solana ecosystem, offering new flexibility for token holders.
This latest expansion is expected to raise SHIB’s visibility and adoption, especially among Solana’s growing user base.
Market conditions and technical developments
Early Tuesday trading pointed to a mixed mood across the cryptocurrency market, as investors awaited the publication of minutes from the Federal Reserve’s most recent meeting. Bitcoin and leading altcoins continue to trade within narrow ranges, with futures markets reflecting a 78% probability that the Fed will leave its policy rate unchanged at the next decision.
Against this backdrop, Shiba Inu’s price declined 0.95% over the past 24 hours to $0.000005893. Despite the daily drop, the weekly change remains positive at up 2.09%.
| Period | SHIB Burned | Burn Rate Change |
|---|---|---|
| 24 hours | 297.68 million | +6,847.52% |
| 7 days | 394.28 million | +1,821.15% |
| 30 days | 666.97 million | Not specified |
Technically, SHIB recorded a significant milestone near the weekend by forming its first daily golden cross in nearly two years. This technical event occurs when a short-term moving average crosses above a long-term moving average, often interpreted as a bullish signal among traders. The previous occurrence of this pattern for SHIB was in November 2024; one month later, in December 2024, the token reached a high of $0.0000334.
Investor focus this week is turning toward Wednesday’s release of the Federal Open Market Committee (FOMC) minutes from the September meeting, which could provide further insight into the future direction of US monetary policy and its impact on cryptocurrency markets.
