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Shiba Inu destroyed 19.5 million tokens in the last week, pushing the weekly burn rate up by 159% while the broader crypto market shows mixed sentiment.
The Shiba Inu ecosystem has recently experienced a significant uptick in token destruction activity, with the weekly burn rate climbing by over 159% [2]. Data from Shibburn indicates that 19,513,946 SHIB were sent to dead wallets over the past seven days, reversing a previous decline in the metric [2]. This surge in burn activity coincides with a broader period of mixed price action for the asset, which remains down by more than 9% on a weekly basis despite a slight daily recovery [2].
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 4 outlets · Jun 3, 2026 · How we report
SHIB’s market cap is $2.48 billion, ranking it 33rd, its lowest position historically.
The critical support level is around $0.0000040, with $0.00000412 also highlighted as a near‑term support.
Geopolitical tensions, notably the US‑Iran war, have heightened risk‑off sentiment, contributing to bearish pressure on SHIB despite a slight rebound in retail open interest.
Analysts note a triple RSI bullish divergence and a possible confirmation if price closes above the 20‑day EMA of $0.0000436.
Yes, analysts suggest SHIB’s next directional move may depend on Bitcoin’s break from its range between $62,000 and a descending trendline.