SHIB Burn Surges 43% as 20M Tokens Removed but Price Slides with Bitcoin Drop

• SHIB burns surge 43% as 20M tokens permanently removed.
• Bitcoin crash drags SHIB price down despite stronger weekly burns.
• Community pushes supply cuts but SHIB price struggles near support.

Shiba Inu holders have intensified their supply reduction drive by ramping up weekly burns. According to Shibburn data, 20,311,173 SHIB tokens were permanently transferred to dead wallets over the past week, representing a 43.66% increase in the burn rate.

Despite this aggressive supply cut, the daily burn pace slowed. In the past 24 hours, only 69,808 SHIB tokens were destroyed, marking a sharp 97.15% decline compared to the previous day’s activity.

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Price Action Turns Negative After Bitcoin Slips

The growing burn numbers did not shield Shiba Inu from broader market pressure. In the last day, SHIB price declined by 1.67 percent, nullifying a brief-lived 1.9 percent surge on Friday.

This weakness coincided with the unanticipated 22.4% decrease in Bitcoin as the most trendy cryptocurrency fell to over $113,000 and down below $110,560 in a single decline. The fall created a strong red candle on the hourly charts, bringing SHIB into a negative trend.

Therefore, Shiba Inu was unable to hold onto its 3.8% increase, which aimed to reach the resistance level at $0.00001248. By the time of reporting, SHIB was trading at a price of $0.00001225, right above its lower support.

Community Maintains Focus on Token Scarcity

Even with the market dip, the SHIB community’s commitment to reducing circulating supply remains firm. Constant losses of tokens into wallets that can never be spent have become the trademark approach to enhancing scarcity in the long run.

Additionally, the coordinated efforts highlight a long-term vision among supporters who believe supply reduction will play a critical role once overall market sentiment recovers.

The Shiba Inu community was able to burn over 20 million tokens in a week, causing the burn rate to skyrocket. However, price movement continues to follow Bitcoin’s lead, leaving SHIB vulnerable to broader market declines despite the tightening supply.

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