Shiba Inu (SHIB) kicked off the week strong, printing a massive green candle on March 23, 2026. Briefly reclaiming the $0.00000600 resistance level, SHIB’s price attempted to surpass the $0.00000625 level twice on two consecutive days, but with no success yet.
However, Thursday’s tremendous upswing in the Shiba Inu daily burn rate has restored some optimism, positioning the popular canine coin perfectly to retest this crucial barrier for the third time this week. Per the latest Shibburn records, a whopping 23,729,119 SHIB tokens were set ablaze over the past 24 hours.
1086% Deflation Uptick Relights SHIB Army’s Fire
This accelerated Shiba Inu’s daily burn rate by 1086.38%, with a total of ten transactions made in 24 hours. Three of those included sending multi-million Shiba Inu coin stashes to the incinerator in one go. Particularly, the largest one is an anonymous 14,235,163 transfer to a null crypto wallet.
Etherscan’s data shows this SHIB burning transfer topped $105 at stamped transaction time, reducing Shiba Inu’s remaining reserves to 585.48 trillion, according to the blockchain explorer. Moreover, this aligns with the rapidly dropping Shiba Inu coin reserves on multiple exchanges, including Binance & Coinbase.
Shiba Inu’s Custodians Are Playing The Long Game
The evidence of the ongoing SHIB supply crunch is crystal clear – this tendency has resulted in the tightest supply count in more than two years. Starting off March, there were just 80.9 trillion SHIB tokens across major platforms – a drastic drop from the 166 trillion just two years ago.
Since then, some profit-taking activities have occurred, adding roughly 300 billion to the overall exchange reserve. Presently at 81.2 trillion, this balance shows the shift is already taking place. However, stagnant trading volumes, hitting just above $113 million on Thursday, shows there’s not much speculative interest around the Shiba Inu coin.
As SHIB Army members move their assets to self-custodial wallets, the discrepancy between SHIB’s price movements & the limited supply is expected to even out – potentially leading to price appreciation once the trading volumes pick up pace.
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In the last 24 hours, the Shiba Inu burn rate jumped 1,086% higher than usual. A total of 23,729,119 SHIB tokens were permanently destroyed (burned) across 10 transactions.
Shiba Inu has a huge supply (585T to go). Burning reduces the total number in circulation, which can make each remaining SHIB a tiny bit scarcer over time — similar to how companies buy back shares to boost value.
It’s a nice spike compared to normal days, but still a very small amount overall. SHIB’s circulating supply is around 585 trillion tokens, so 23.7 million is like removing a few drops from an ocean.
Burns help a little with long-term scarcity, especially if they keep happening steadily and the Shiba Inu coin community (plus Shibarium layer-2) creates real usage.
