Shiba Inu token sees 350% surge in daily burns as price steadies

Shiba Inu (SHIB) recorded a dramatic increase in its token‑burn activity, with 12.47 million SHIB removed from circulation in the last 24 hours—a 350.29% rise in daily burns. The seven‑day total reached 44.23 million SHIB, up 32.63% week over week, underscoring ongoing efforts to shrink supply.

Despite the aggressive burn pace, price movement remained modest. SHIB rose about 1.7% to roughly $0.0000114, holding above a key support zone that has attracted buying interest in recent weeks. Technical indicators show seller fatigue: the RSI climbed toward 42 after exiting oversold territory, while trading volume stayed subdued. Exchange data revealed a net outflow of approximately $175,050, indicating that holders are moving tokens off‑exchange rather than selling.

Large‑wallet (whale) activity persisted, with big orders dominating spot‑market trades, suggesting institutional or high‑net‑worth participants are positioning for a longer‑term move even as the broader market awaits a decisive breakout.