Shiba Inu Token Burns Remove Nearly 3 Billion SHIB, Price Jumps 17%
Shiba Inu is back in the conversation after one of its strongest weekly runs in months, and the trigger looks less like hype and more like arithmetic. A fresh wave of Shiba Inu token burns has pulled nearly 3 billion SHIB out of circulation in just seven days, and traders are now asking whether that shrinking supply can keep fueling the rally or whether resistance overhead will stop it cold.
Key takeaways
- Nearly 2.98 billion SHIB tokens were burned in the past seven days, the largest weekly burn total in roughly a year.
- SHIB gained 17% during that same burn window, with buyers pushing the price close to 0.0000058 before profit-taking dragged it back near 0.0000047.
- The 0.0000050 zone has become a key support battleground as buyers try to hold their ground.
- The Average Directional Index climbed to 31.03, and SHIB remains above Supertrend support near 0.00000444, both signs the trend has real strength behind it.
- The next technical targets sit near the 200-day exponential moving average around 0.0000060, followed by resistance close to 0.0000070.
Record Weekly SHIB Token Burns Boost Market Sentiment
Supply reduction is doing the heavy lifting behind SHIB’s latest bounce. Over the past seven days, nearly 2.98 billion SHIB tokens left circulation permanently, marking the biggest weekly token burn total in about a year. That kind of pace hasn’t been seen since well before this current market cycle began, and it’s giving traders a reason to pay closer attention.
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