Shiba Inu Burn Activity Spikes: Is a Price Rally Coming?

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The Shiba Inu community witnessed a significant development after a massive 16,682,282 SHIB tokens were sent to a dead wallet and permanently burned. Shibburn, the dedicated SHIB burn tracker, confirmed the burn in a recent tweet: “16,682,282 SHIB transferred to dead wallet.”

Although the identity of the sender remains unconfirmed, past burns typically originate from individual holders, community-run projects, or automated burn initiatives on Shibarium. It is still uncertain whether this burn was part of a broader campaign or a one-time event.

🔥 16,682,282 $SHIB -> transferred to dead wallet. https://t.co/Ae7s8IYKuw
— Shibburn (@shibburn) April 18, 2025

Weekly Burn Rate Surges Over 73%

This single burn contributes to a growing trend. Over the past seven days, Shiba Inu’s total token burn reached 130,942,507 SHIB, as per Shibburn. This marks a 73.32% increase in the weekly burn rate. Such spikes suggest heightened community activity and consistent commitment to SHIB’s deflationary path.

Since the start of 2025, the Shiba Inu ecosystem has destroyed billions of SHIB tokens. These burns result from both community-driven efforts and utility-based transactions conducted through Shibarium, SHIB’s layer-2 blockchain. Each transfer to the burn wallet reduces circulating supply, pushing SHIB closer to its long-term goal of creating token scarcity and potentially increasing value.

SHIB Price Moves Slightly Amid Market Uncertainty

At the time of writing, SHIB rose 0.98% over the last 24 hours to trade at $0.00001200. The broader crypto market has posted mixed performances, particularly after Federal Reserve Chair Jerome Powell dismissed hopes for early interest rate cuts.

Additionally, the latest Philadelphia Fed manufacturing index showed a decline in activity, dropping to a two-year low. This further pressured market sentiment on Thursday. Consequently, SHIB also declined during the session but has since attempted a modest rebound.

Any potential rally may face resistance at the daily simple moving average (SMA) 50, currently positioned at $0.0000127. If SHIB manages to break above this barrier, the next major resistance level lies at $0.00001567, where sellers are likely to intensify their efforts.