Shiba Inu (SHIB) burn rate plummeted by more than 91% on September 28, 2026, even though this cryptocurrency climbed over 7.7% last week.
Shiba Inu burn rate experienced a 91.31% meltdown over the past 24 hours, from approximately 3,887,908 SHIB at the beginning of the day to roughly 338,050 SHIB obliterated, according to data from Shibburn.
During the past 30 days, SHIB’s burn activity surged to its highest level on September 10, when 73,288,887 tokens were incinerated. On September 19, the Shiba Inu burn rate also soared, with 69,934,007 SHIB destroyed.
Notably, although the Shiba Inu burn rate has plunged significantly on Monday, down by more than 36% over the past 30 days, the Shibarmy still gets to benefit. Furthermore, the total SHIB burned increases over time, currently at around 410,844,369,808,074 SHIB, valued at over $7.35 billion.
At the time of reporting, these burned Shiba Inu represented 41.08% of its total supply.
Shiba Inu price performance amid burn rate’s implosion
At the time of writing on Monday, SHIB price had declined 4.69%, trading at $0.000005673. However, it has climbed 11.13% over the past 30 days, thereby pushing its market capitalization to $3.34 billion, based on data from CoinMarketCap.
Nonetheless, while SHIB burn rate fell today, its 24-hour trading volume has gained about 10.78% to $86.7 million.
What’s next for the SHIB price?
With more SHIB tokens being sent to the destroyer smart contract, the token’s circulating supply is bound to decrease, thus bolstering bullish sentiment. Consequently, Finbold’s AI Agent, an advanced artificial intelligence (AI)-powered financial tool, expects the Shiba Inu price to reach $0.000006525 by October 1, 2026.
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