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Key Takeaways:
- SHIB burn rate spiked 3401%, reducing supply and sparking investor interest.
- Open interest rose to $295M, indicating growing bullish sentiment in derivatives markets.
- On-chain and technical indicators point to a potential sustained rally — but caution and research remain essential.
Shiba Inu (SHIB) has burned over 6.3 million tokens in just 24 hours, marking a staggering 3401% increase in its burn rate. This dramatic spike has reignited optimism in the SHIB community, as token burns often reduce supply and can increase perceived value — a classic scarcity play.
HOURLY SHIB UPDATE$SHIB Price: $0.000015 (1hr 2.27% ▲ | 24hr 5.02% ▲ )
— Shibburn (@shibburn) July 18, 2025
Market Cap: $8,861,245,486 (5.38% ▲)
Total Supply: 589,248,693,966,622
TOKENS BURNT
Past 24Hrs: 6,329,090 (3401.55% ▲)
Past 7 Days: 29,356,413 (-97.21% ▼)
The surge in burns appears to be part of a growing investor effort to support the meme coin’s long-term valuation. This, combined with surging on-chain and derivatives activity, could mark a significant turning point for SHIB.
Open Interest Hits $295 Million — Trader Confidence Rising
Alongside the burn rate spike, SHIB’s open interest surged over 20% to $295 million, according to data from Coinglass. Rising open interest typically indicates a wave of new long positions and suggests growing trader confidence in a potential upward price movement.
The simultaneous increase in token burns and leveraged trading positions presents a confluence of bullish sentiment, especially among retail and speculative traders. This pattern is commonly observed at the start of new upward trends, giving more weight to the ongoing momentum.
On-Chain Metrics Reflect Growing Retail Engagement
Supporting the bullish narrative, on-chain analytics from IntoTheBlock show a healthy spike in SHIB network activity. Over the past week:
- New addresses increased by 24.78%
- Active addresses rose by 23.43%
- Zero-balance addresses jumped 29%, hinting at user re-engagement or wallet consolidation
Additionally, social media activity surged 126%, reflecting rising community interest. These metrics suggest strong underlying support for SHIB’s current price action, reinforcing the sustainability of its short-term rally.
Technical Breakout Validates Bullish Shift
On the technical side, SHIB has broken out of a descending trendline and confirmed a double bottom pattern at $0.00001063 — a reliable reversal signal. The price has since surged past $0.00001428 and currently trades near $0.00001507, with eyes on the $0.00001580 resistance level.
Also Read: Shiba Inu Price Prediction: How and When SHIB Could Hit $0.01
Momentum indicators also confirm bullish strength:
- +DI at 37.57, significantly above the -DI at 11.60
- ADX at 27.98, suggesting trend strength
These signals point toward a sustained bullish trend, with a potential push toward $0.00001759 if volume holds up and dip-buying continues.
SHIB’s unprecedented burn spike, rising open interest, and confirmed technical breakout paint a bullish short-term picture. Coupled with strong on-chain participation and momentum indicators, the meme coin appears poised for a potential continuation rally.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
