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Shiba Inu burned 117 million tokens on July 8, the biggest daily burn in six months, yet the token remained range‑bound near $0.0000054, highlighting weak
Shiba Inu’s community destroyed more than 117 million SHIB tokens on July 8, marking the largest single‑day burn in six months, but the token continued trading within a tight range, underscoring that supply cuts alone are not driving demand【1】.
| At a glance | |
|---|---|
| Burn size | 117 million SHIB |
| Largest wallet | 109 million SHIB (Robinhood‑linked) |
| Price after burn | ~ $0.0000054 |
| Market cap | $2.52 billion (36th rank) |
Shibburn data showed a Robinhood‑linked wallet sent over 109 million SHIB to a dead address, accounting for the bulk of the July 8 burn, while several smaller wallets contributed the remainder to push the daily total above 117 million tokens【1】. Since 2021 the community has destroyed roughly 410.84 trillion SHIB, a figure still dominated by Vitalik Buterin’s 410.24 trillion‑token burn in May 2021, which at the time was valued at about $6.7 billion【1】. Despite the recent activity, SHIB’s circulating supply remains above 585 trillion tokens, meaning that even a year‑long continuation of the current burn rate would only shave a modest slice off the total supply【1】.
Over the past month SHIB has lost nearly 9 % but posted a modest weekly gain, staying confined to a narrow band around $0.0000054【1】. The muted response mirrors broader weakness across meme coins, as investors have focused on overall demand and network utility—particularly Shibarium adoption—rather than isolated supply reductions【1】. While Bitcoin, Ethereum, Cardano and Solana posted double‑digit gains in the same period, meme tokens, including SHIB, failed to match that performance, with SHIB gaining less than 5 % during the recent market rebound【1】.
SHIB’s market capitalization sits at about $2.52 billion, ranking it 36th among cryptocurrencies, yet its circulating supply of over 585 trillion tokens keeps the per‑token price extremely low【1】. Analysts note that historical meme‑coin rallies tend to follow stronger retail participation rather than burn events alone, suggesting that supply‑side actions may have limited impact without corresponding demand growth【1】.
The July 8 burn highlights that token destruction, even at its largest in half a year, is insufficient to spark price momentum without a corresponding surge in demand or network usage. Future price moves will likely hinge on whether Shibarium adoption can generate enough on‑chain activity to complement supply‑side measures.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 3 outlets · Jul 9, 2026 · How we report
The community burned over 117 million SHIB tokens on July 8, with a single transaction of more than 109 million tokens linked to a Robinhood‑associated wallet.
No, the token remained range‑bound near $0.0000054, and traders focused more on demand and network adoption than on the supply reduction.
Approximately 410.84 trillion SHIB tokens have been destroyed since 2021, largely due to a single 2021 burn by Vitalik Buterin.
The article uses Shiba Inu’s past viral price surge as a benchmark, suggesting Pepeto could deliver similar returns while providing additional utility.
Analysts point to demand, circulating supply dynamics, and the adoption of Shibarium as primary drivers of the token’s outlook.