Key Notes
- Shibburn, the dedicated burn tracker for the Shiba Inu ecosystem, shows that the burn rate has spiked by 3,464%.
- The destruction of 9,614,765 SHIB within 24 hours leaves the market with 584,612,601,558,519 SHIB in circulating supply.
- In the middle of this, SHIB price responded with a 1.91% rally.
The Shiba Inu SHIB $0.000013 24h volatility: 3.6% Market cap: $7.42 B Vol. 24h: $159.06 M burn rate has spiked by 3,464%, per data from Shibburn, the dedicated burn tracker for the ecosystem. Coincidentally, SHIB price has staged a mild recovery, hinting at the possibility of losing one zero in the long term. In addition, its market capitalization has shot up to reach $7.3 billion.
No Commensurate Price Gain to SHIB Burn Rate
Shibburn data shows that the recent 3,464% rally in burn rate led to the destruction of 9,614,765 SHIB within 24 hours. As a result, a total of 410,752,089,360,220 SHIB has been burnt from the initial supply of the crypto asset. This leaves the crypto market with 584,612,601,558,519 SHIB in circulation.
HOURLY SHIB UPDATE $SHIB Price: $0.00001238 (1hr 0.20% ▲ | 24hr 2.07% ▲ )
Market Cap: $7,298,459,492 (2.12% ▲)
Total Supply: 589,247,910,709,199TOKENS BURNT
Past 24Hrs: 9,614,765 (3464.69% ▲)
Past 7 Days: 23,317,751 (-96.31% ▼)— Shibburn (@shibburn) August 7, 2025
According to an X update, about 23,317,751 SHIB were incinerated within 7 days. The previous week, the ecosystem had seen a 16,855.93% surge in the burn rate in one day, leading to the destruction of 602 million tokens.
The recent increase in burn rate is expected to spark speculation about a potential price rally for the coin. Thus far, there has been some slight gain, but it may be too early to conclude that the aggressive burn rate has translated into price gains. CoinMarketCap data shows that SHIB price is currently pegged at $0.00001239.
This price level corresponds with a 1.91% rally over the last 24 hours while its market cap is at $7.3 billion, up by the same percentage. Notably, the SHIB trading volume is a metric that suggests that traders are hardly excited about SHIB. This metric shows that current engagement with the digital assets is at its minimum.
Shiba Inu’s 24-hour trading volume is down by 31.07% and pegged at $141.01 million. SHIB remains 5.11% down over the last 7 days but has retained a 5.3% surge in the last 30 days.
