SHIB burn activity showed 59.4 million SHIB moved to anonymous wallets this week, but the weekly burn rate fell ~42% while the daily burn rate rose 13.7%. Shiba Inu price climbed 11.5% alongside Bitcoin, reaching a short-term peak near $0.00001350 before a mild pullback.
59,405,917 SHIB transferred to unspendable wallets this week
Weekly burn rate down ~42%; daily burn rate up 13.71%
SHIB price surged 11.52% in one day, topping $0.00001350 before retracing
SHIB burn, Shiba Inu price: 59.4M SHIB moved to wallets; price jumped 11.5% with Bitcoin — read the full analysis and key takeaways.
What is the latest SHIB burn update?
SHIB burn activity over the past seven days recorded 59,405,917 SHIB transferred to anonymous/unspendable wallets, according to wallet tracker Shibburn. Although large transactions included three chunks of 27,062,451 and two transfers of 10,000,000 SHIB, the overall weekly burn rate declined near 42% while daily burns improved.
How did the SHIB burn and price move this week?
Shibburn data shows concentrated transfers totaling 59.4 million SHIB in seven days. The largest movements were 27,062,451 SHIB, 10,000,000 SHIB and 10,000,000 SHIB to burn addresses.
Despite these transfers, the weekly burn rate fell roughly 42%, indicating lower net removal versus previous weeks. Conversely, the daily burn rate rose 13.71%, driven by smaller frequent burns. Net amount moved to unspendable addresses in the latest daily snapshot was 79,519 SHIB.
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The Shiba Inu price rose 11.52% on Friday, mirroring Bitcoin’s rally, and printed several consecutive hourly bullish candles, one delivering a 4.85% intraday jump. SHIB reached a local high of $0.00001350 before a pullback of about 3.68% and a modest recovery to $0.00001330.
Price momentum came amid a broader market lift after Federal Reserve Chair Jerome Powell indicated the Fed may lower interest rates slightly next month. That macro development helped Bitcoin push higher and Ethereum reach new highs for the first time since November 2021, supporting altcoin strength including SHIB.
Short-term price gains driven by macro cues and correlated BTC strength do not necessarily reflect structural supply reductions from burns. The weekly decline in burn rate suggests limited long-term supply impact from the recent transfers. Traders should weigh on-chain burn trends alongside market liquidity and macro developments.
Shibburn reports 59,405,917 SHIB moved to anonymous/burn addresses over the past seven days, with the three largest transfers totaling 47,062,451 SHIB combined.
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Source: https://en.coinotag.com/59-4-million-shib-burned-as-price-may-track-bitcoins-recent-upswing/