Shiba Inu Surges on 1 Billion Token Burn

Andrew Chen
Shiba Inu (SHIB)

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Key Takeaways:

  • Shiba Inu jumped 9% in 24 hours, hitting a one-month high amid a record daily burn of over 1 billion tokens.
  • Technical momentum is bullish, with SHIB breaking major resistance levels and moving above its 50-day average.
  • SHIB’s ecosystem is maturing, with deflationary mechanics like Shibarium and ShibTorch fueling long-term investor interest.

    Shiba Inu (SHIB) has reignited the crypto community’s attention with a blazing rally and an unprecedented token burn. The meme coin surged 9% in 24 hours to touch a one-month high of $0.00001359. However, it wasn’t just the price that turned heads—over 1 billion SHIB tokens were sent to the burn wallet in a single day, marking the largest one-day burn in SHIB history.

    Record Token Burn Sparks Deflation Hype

    The Shiba Inu burn rate soared 1,677% over the last week, with more than 1.3 billion tokens incinerated. According to Shibburn, July 10 alone accounted for over 1 billion SHIB destroyed. A single whale contributed significantly, burning more than 131 million tokens. This aggressive deflation is largely fueled by Shibarium’s automated burn mechanisms and increased whale activity.

    The burn narrative has transformed from mere community hope into blockchain-backed action. Tools like ShibTorch now automatically convert gas fees into SHIB burns, showcasing real utility within the Shiba ecosystem.

    SHIB Breaks Key Resistance Levels

    Shiba Inu’s technical indicators are finally aligning with the bullish momentum. The coin broke out of a descending triangle on the SHIB/BTC chart, signaling a trend reversal after months of stagnation. It also surged past its 50-day simple moving average of $0.00001242—a key signal that momentum is shifting.

    Crypto analysts including Tim Hakki and Jonathan Carter point to upcoming resistance at $0.00001500, $0.00001750, and $0.00002500. The SHIB price, now hovering around $0.00001311, could retest those zones if volume and sentiment continue to build.

    Also Read: Shiba Inu Burn Rate Surges 65,000% — Can SHIB Break Out of Its 4-Month Price Range?

    Can SHIB Challenge Dogecoin’s Dominance?

    The real question now: can Shiba Inu dethrone Dogecoin? While DOGE still holds a stronger market cap and brand recognition, SHIB is steadily gaining ground. Its tokenomics are becoming deflationary, and its Layer 2 network—Shibarium—is bringing in real-world use cases and developer engagement.

    Lucie, a core member of the SHIB team, noted the cultural shift: “More developers, fewer speculators.” With over 415 trillion tokens now burned and a circulating supply of around 584.56 trillion, SHIB is gradually slimming down its massive supply—one of its most criticized aspects in past years.

    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.

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