59.4M SHIB Burned as Price Surges 11.5% on Fed Rate Hopes
Shiba Inu recorded a significant SHIB burn as 59.4 million tokens were removed from circulation over the past week. Despite three major burns totaling over 47 million SHIB (27.06M, 10M, 10M), the weekly SHIB burn rate fell by 42%, even though the daily burn rate climbed by 13.7%. The drop in the SHIB burn rate contrasts with only 79,519 tokens sent to unspendable wallets in daily burns. Concurrently, SHIB price rallied 11.52% in a single day, reaching a local peak of $0.00001350 before retracing to $0.00001330. This rally aligned with Bitcoin’s brief surge above $117,000 and followed Fed Chair Jerome Powell’s indication of an interest rate cut next month. Ethereum also hit a new all-time high for the first time since November 2021.
Bullish
Removing 59.4 million SHIB from circulation continues to tighten supply, a mechanism that historically supports price. Although the weekly SHIB burn rate dropped 42%, the sizable total burn underscores ongoing community commitment. The 11.5% price surge, coinciding with Bitcoin reclaiming $117,000 and Fed rate-cut expectations, generated strong bullish momentum. Short-term traders often respond positively to large token burns—similar burn-driven rallies occurred in early 2025 after major SHIB burn announcements. However, the weaker weekly burn rate injects caution for the long term; consistent high-volume burns will be needed to maintain upward pressure. Broader market factors, including Ethereum’s new all-time high and dovish Fed signals, foster a risk-on environment that tends to benefit high-beta memecoins like SHIB. Overall, this combination of token burns, macro economic tailwinds, and market sentiment points to a bullish near-term outlook, while sustained burn volumes and market cycles will shape SHIB’s longer-term trajectory.