Shiba Inu Burn Rate Surges 3500% in Single Day

Shiba Inu has recently experienced significant burn activity, with a notable increase of 3500% recorded in a single day. This burn activity involved the removal of 537,187,730 SHIB tokens from circulation, with concentrated transaction patterns occurring within specific timeframes. The largest single burn event processed over 310 million SHIB tokens to the BA-1 burn address, while additional burn transactions from the same wallet address processed 103,276,575 SHIB and 107,333,061 SHIB tokens, respectively. Earlier burn activity included a transaction of 15,829,672 SHIB tokens from one wallet to the CA burn address, and a smaller burn of 3,632 SHIB tokens from another address. The burn rate at the time of writing stood at 3484.34%, marking one of the highest daily burn percentages recorded for the Shiba Inu ecosystem. This burn activity contributes to the deflationary mechanics of the SHIB token supply, with tokens permanently removed from circulation through transfers to dedicated burn addresses.

Cryptocurrency technical analysts have set a likely price target for Shiba Inu at $0.000666 through the development of chart patterns and support level analysis. InvestingHaven analysis indicates that SHIB maintained its major support at the $0.000012345 level during major market hours, in line with previously forecasted annual lows at $0.0000133. The chart configuration indicated initial signs of a probable W-reversal pattern formation. The technical configuration indicates that in the event of successful formation of the W-reversal pattern, SHIB may form an upward trend to the price level target of $0.000666. The W-reversal pattern is a bullish chart pattern that generally indicates signs of trend reversal from bearish to bullish. Further technical analysis by JAVON MARKS sees SHIB trading in a grand Inverse Head and Shoulders pattern, in its last stages. The chart pattern formation indicates possible price appreciation, as calculations reveal possible gains of more than 503% to hit an initial target of $0.000081. The combination of multiple technical indicators, including the maintained support levels and bullish pattern formations, provides the analytical foundation for the projected price movement toward $0.000666.

The Shiba Inu development team has launched Shib Alpha Layer, a beta version rollup abstraction stack built in collaboration with ElderLabs and settled on Shibarium. This infrastructure upgrade aims to unify multiple RollApps into a single ultra-fast layer and create an easy user experience across dozens of rollups operating beneath the surface. Kaal Dhairya, a SHIB developer, shared the technical specifications of the new system. Shib Alpha Layer provides a single-chain user experience capability and does away with the need for users to manage multiple bridges or broken wallets. The architecture provides high transaction volume with near-instant finality and offers Web2-level application responsiveness. The infrastructure is multi-gas token payment-enabled, providing users with the flexibility of paying transaction fees in multiple ways. FHE-activated privacy features allow users to exchange ZAMA FHE for encrypted smart contract logic where required. The system is also backed by plug-and-play ShibOS services, where users can select required modules while overlooking unwanted modules. Planned functionality will include instant bridging functionality and native interoperability functionalities to allow liquidity to flow freely across the network. The upgrade places Shibarium as the settlement layer, so that each RollApp a Layer 3 solution with built-in security functionality and enhanced utility for the SHIB token.