Almost 3 billion SHIB tokens were burned over the past seven days, marking the highest weekly burn in about a year. This surge caught attention as Shiba Inu celebrated its sixth birthday, briefly pushing its price up before a market-wide dip pulled it back.
The 2.96 billion tokens sent to dead wallets are impressive on paper but represent only a tiny sliver of the 589 trillion tokens currently in circulation. Despite the scale, these burns serve more as a sentiment boost than a direct price driver, signaling growing scarcity to traders.
Alongside the burn, Shiba Inu’s market cap hovers near $2.94 billion with daily volumes around $142 million. Still, more decisive factors for sustained demand will be activity on Shibarium, upcoming LEASH v2 launches, and regular ecosystem burns rather than isolated token removals.
