Shiba Inu Price Rally Hits 17% as Nearly 3 Billion Tokens Burn
Shiba Inu is having its strongest week in months, and the fuel behind the move looks less like speculative hype and more like structural change. A wave of shiba inu token burns pulled nearly 2.98 billion SHIB out of circulation over the past seven days โ the largest weekly burn total in roughly a year โ while the price of the meme coin climbed 17% in the same stretch. Traders are now watching whether the rally has legs or whether it stalls just below a key technical ceiling.
Key takeaways
- SHIB price rose 17% over the past week, supported by record token burns.
- Nearly 2.98 billion SHIB were burned in seven days, including one transaction that destroyed more than 757 million tokens.
- SHIB futures trading volume jumped 81.1% week over week to roughly $141.7 million a day, according to CoinGlass.
- Key support sits at $0.0000050, with resistance targets at $0.0000060 (the 200-day EMA) and $0.0000070.
- Strong liquidation clusters between $0.0000046 and $0.0000047 could trigger a short-term pullback if that support breaks.
SHIBโs 17% Rally Rides on Record Token Burns
The burn engine is doing much of the heavy lifting behind Shiba Inuโs latest bounce. Nearly 2.98 billion SHIB left circulation over the past week โ the biggest seven-day burn total in about a year โ and that reduction in available supply has tracked closely with the coinโs 17% weekly gain. The scale of recent shiba inu token burns has become one of the clearest signals traders point to when explaining the rally.
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