Shiba Inu is off to a remarkable start in 2026, witnessing a staggering 10,728% increase in its burn activity as the new year begins. Despite the overall crypto market displaying mixed performance, the Shiba Inu ecosystem is demonstrating robust engagement.
On January 1, data from Shibburn revealed that over $172 million worth of SHIB tokens were sent to unrecoverable wallets within a 24-hour window. This surge in burn activity is significantly aimed at decreasing the circulating supply of Shiba Inu, with the current supply now recorded at 585.29 trillion SHIB.
The impressive burn rate was driven by multiple transactions, including a notable one where approximately 171.68 million SHIB were sent to the burn address in a single move. Additionally, another transfer involved around 1.11 million SHIB being directed to a dead wallet, complemented by several smaller transactions that collectively pushed the total daily burns to 172.89 million SHIB.
This uptick in burn activity has sparked renewed enthusiasm within the Shiba Inu community, showcasing a potential bullish sentiment. Although Shiba Inu entered the trading year in a decline, the significant increase in burn rate has injected optimism into the market.
The substantial burn activity is perceived as a sign of growing interest from both retail investors and institutional players. This momentum may position Shiba Inu for a potential rally, setting the stage for bullish trends in the first quarter of 2026.
