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Shiba Inu’s biggest one‑day burn in six months (117 M tokens) and Remittix’s $26.7 m funding drive crypto watchlist; Dogecoin price action remains flat.
Shiba Inu burned 117 million SHIB on July 8, the largest single‑day reduction in six months, while Dogecoin showed little price movement and Remittix secured $26.7 million to expand its PayFi wallet service【1】.
| At a glance | |
|---|---|
| Token burn | 117 M SHIB (July 8) |
| SHIB price | $0.00001191 |
| 24h change | flat for DOGE (no data) |
| Catalyst | SHIB burn & Remittix funding |
The July 8 burn represents a fresh supply‑reduction effort that revived discussion around SHIB’s long‑term scarcity narrative. Despite the sizable reduction, SHIB’s price has stalled at $0.00001191, a level that would require a market cap of over $600 trillion to reach $1—about five times the world’s GDP—making such a target implausible【2】. With roughly 589 trillion tokens in circulation, the burn alone is insufficient to shift price momentum without accompanying demand.
Dogecoin’s price action remains mixed, with no notable rally reported in the available sources, suggesting limited trader interest amid broader meme‑coin volatility. In contrast, Remittix (RTX) announced a $26.7 million funding round and launched a live PayFi wallet beta audited by CertiK, offering instant cross‑border transfers across 30+ fiat currencies and 40 cryptocurrencies【2】. Its deflationary tokenomics and a 15 % USDT referral incentive provide tangible utility, positioning Remittix as a more substantive play than pure speculation.
The juxtaposition of a high‑profile SHIB burn with stagnant price action underscores the limits of supply‑only strategies, while Remittix’s tangible product development highlights a shift toward utility‑driven crypto projects. The next weeks will reveal whether burn events can translate into sustained price gains or if investors continue to favor tokens with real‑world use cases.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 3 outlets · Jul 23, 2026 · How we report
Shiba Inu has a circulating supply of 589.25 trillion tokens, meaning a $1 price would require a market capitalization of $589.25 trillion. This figure exceeds the estimated total wealth held by all people, businesses, and governments on Earth, which was $454 trillion in 2022.
The Shiba Inu burn program involves sending tokens to a dead wallet where they can never be retrieved, effectively removing them from circulation. As of early 2026, the community burn rate is slow, with estimates suggesting it could take over 40,000 years to burn the total supply at the pace observed in January 2026.
Shiba Inu is technically decentralized but relies on the legacy Ethereum network rather than its own blockchain. Critics note that the developers maintain a high level of influence over project launches, which differs from the structure of Bitcoin.
Shiba Inu delivered a return of 45,278,000% between January 1 and December 31, 2021. This performance is cited as one of the best annual returns in the history of financial markets.