The popular meme coin Shiba Inu (SHIB) is getting to the ‘Uptober’ festivities with fire. Shibburn, a blockchain data tracker that’s accountable for all-time SHIB burns, dropped a pleasant surprise on the SHIB Army. The 7-day burn rate just hit 915.44%, putting the remaining SHIB circular at 589.24T.
With 689,128 tokens burned in the latest 24-hour window, this boosts the daily Shiba Inu (SHIB) burn rate to 887.11%. Will the meme coin’s price catch up to this inferno shine? With Bitcoin topping $119,580 today, the high price correlation between SHIB & BTC could add extra buying power to make this happen.
Shiba Inu’s Bull Rally Stalls With This Setback..
However, much depends on the trading volume. Shiba Inu (SHIB) did indeed bounce off the lower support barrier of $0.00001160 thrice this week, but Spot market volumes remain at a humble $198 million. In comparison, top competing meme coins Dogecoin (DOGE) & Pepe Token (PEPE) gulped up $3.07 billion & $570.88 million, respectively.
Presently, Shiba Inu’s (SHIB) price is nearing the crucial resistance area of $0.0000130, and if held – a breakthrough towards July levels of $0.0000160 would make the bull run sustainable. Even though major-scale crypto investors, popularly referred to as whales, have started accumulating positions, they’re not exactly splashing millions on SHIB yet.
Bulls Regain Steering Wheel, But There’s a Twist
Certainly, the 0.11 figure on the Chaikin Money Flow (CMF) constitutes a buying sentiment among whales, but the sluggish trading volume on Thursday & a slight difference in the order books between 24-hour buys & sales implies that crypto bears might attempt to steal the show.
For now, the #28 seated canine meme currency Shiba Inu coin (SHIB) is exchanging hands at $0.00001237, trading right on current the Exponential Moving Average (EMA) line, portrayed in blue color. Luckily, the Bull Bear Power (BBP) meter flashes all-green, boosting Shiba Inu’s odds of a short-term rebound beyond the $0.00001300 confluent resistance level.
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People Also Ask:
SHIB’s daily token burns soared 887% (per Shibburn, Oct 2, 2025), with millions of tokens removed via community-driven burns and Shibarium transactions to reduce supply.
Tokens are sent to a null wallet, permanently cutting circulating supply. Burns come from community initiatives, Shibarium fees, and projects like ShibaSwap.
Burns aim to boost scarcity, potentially lifting prices. SHIB’s at $0.000016 now; sustained burns could spark gains, but market volatility rules.
Shibarium, SHIB’s layer-2 network, burns a portion of transaction fees, accelerating token destruction as adoption grows, fueling the 887% surge.
Yes, participate via community burn portals or use Shibarium-powered dApps like ShibaSwap to contribute indirectly through fees. Check official SHIB channels for details.