Shib Burns Skyrocket 1,344%: 28,863,518 Shib Torched

The Shiba Inu (SHIB) community burned nearly 29 million SHIB tokens in the past 24 hours, marking a 1,344% increase in burn activity. These burns, carried out across several transactions by anonymous wallets, are part of ongoing efforts to reduce the token's circulating supply despite limited impact on its price.

SHIB’s price has struggled to recover after a 7% drop on Sunday, briefly rising by 4% before falling again by 3.41%, trading at $0.00000788. The token’s price movements continue to closely follow Bitcoin’s volatility, while dormant investors have returned, including a major whale who recently withdrew over 15 billion SHIB from Binance for long-term holding.