Shiba Inu has attracted significant attention after millions of its tokens were burned within the last 24 hours. Over 6 million SHIB were removed from circulation in a single day, sent to inactive wallets and effectively destroyed. This aggressive burning trend pushed the total number of SHIB tokens burned over the past week to 33.5 million, while in the last 30 days, it reached close to 197.4 million. Since its inception, over 41% of the one quadrillion SHIB tokens initially issued have been burned—amounting to more than 410.8 trillion tokens, with an approximate total value near $7.36 billion. Recent data shows the daily burn rate jumped 37%, even as the weekly rate declined by more than 40%.
Rising interest for Shiba Inu in India
Trading activity for Shiba Inu has seen notable growth, especially on major Indian exchanges. On the WazirX exchange in April, SHIB ranked as the second most traded cryptocurrency, coming just behind Bitcoin. Ethereum, Dogecoin, and XRP also appeared among the top assets with high trading volumes, but SHIB’s momentum stands out in the Indian market.
Kuro, an active member of the Shiba Inu community, emphasized on social media that interest from Indian investors remains robust and shows no sign of slowing.
“It looks like SHIB’s popularity in India is not going to stop any time soon,” Kuro observed, highlighting ongoing enthusiasm.
These comments reflect the sustained community excitement around SHIB in India, which continues to bolster its liquidity and market presence.
Performance and critical price benchmarks
The broader appetite for cryptocurrencies has been boosted in part by record surges in exchange trading volumes. This bullish environment has especially supported the upward movement seen in altcoins like Shiba Inu. According to CryptoAppsy data, SHIB rose by 2% over the past 24 hours, currently trading at $0.00000641. The weekly price increase has reached 3%.
Shiba Inu’s market dynamics also benefitted from last Friday’s US employment report, which showed an increase of nearly 115,000 jobs and contributed to the overall positive financial sentiment. While SHIB dipped to a low of $0.00000607 on April 30, it has mostly traded in a range between $0.0000058 and $0.00000656 since mid-March.
A key technical indicator also signals optimism: SHIB has remained above its daily 50 simple moving average. Experts suggest that the price could soon aim for the daily 200 moving average, which currently sits at $0.00000730.
Such technical resilience, alongside active community engagement and international trading momentum, is reinforcing SHIB’s appeal among both retail and institutional investors alike.
While these burn rates and trading patterns illustrate encouraging signals, market participants are closely watching for a decisive move above current resistance levels.
The continued coordination within the SHIB ecosystem, combined with increased adoption in emerging markets, may further shape its price direction in the coming period.
Despite recent volatility, Shiba Inu’s lasting popularity in strategic regions and ongoing supply destruction continue to be key drivers behind its recent market activity.
