Shiba Inu Hits 602 Million SHIB Burn in Single Transaction Despite 5% Price Drop

Shiba Inu (SHIB) remains one of the most discussed tokens in the meme coin space despite its year-to-date losses of 40% in 2025. Recently, a single transaction burned 600 million SHIB tokens, while the total burned in a few hours reached 602 million. This significant burn event occurred over just a few transactions, with one transaction accounting for the bulk of the volume. Although the burned tokens represent a value of only $7,633, the sheer scale of the activity suggests a potential uptick in network usage and token deflationary pressure [1].

The Shiba Inu blockchain is programmed to route a portion of transaction fees to a burn wallet, gradually reducing the circulating supply of SHIB. The burn tracking platform ShibBurn reported the surge in activity, signaling a possible shift in investor sentiment or market dynamics. Despite the token’s poor performance, SHIB continues to hold the second-largest market cap among meme coins, valued at $7.5 billion, indicating its enduring influence and potential for long-term gains [1].

However, recent price movements have raised concerns. Over the past couple of days, SHIB broke below a key trend line support, and the token has fallen 5% in the last 24 hours, with trading volumes dropping by 13%. This bearish breakout could lead to further downward pressure, potentially pushing SHIB to $0.00001050 within the next few days. Analysts suggest that if the $0.00001200 level holds as a strong support, it could signal a potential rebound, pushing SHIB back toward $0.00001600 or higher [1].

Some market observers remain optimistic about SHIB’s long-term prospects, noting that while a move to $1 is highly unlikely, a retest of its all-time high during an altcoin season is still possible. The token’s strong community and ecosystem provide a solid foundation for future growth, despite current market headwinds [1].

In the broader crypto landscape, investors are also turning to alternative projects for potential gains. Tokens like Token6900 (T6900) are emerging as symbols of the meme coin movement, offering no roadmap or promises but instead relying on speculative “vibe liquidity.” T6900 is seen by some as a reaction against traditional financial structures, emphasizing the emotional and cultural aspects of crypto investing [1].

As SHIB continues to navigate a volatile market, the recent token burn represents a positive structural change. Whether this leads to a sustained price increase remains to be seen, but it underscores the ongoing dynamics within the meme coin sector.

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[1] Shiba Inu Price Prediction: 602 Million SHIB Tokens Burned in One Go – Could This Be the First Step Toward $1 SHIB? (https://cryptonews.com/news/shiba-inu-price-prediction-602-million-shib-tokens-burned-in-one-go-could-this-be-the-first-step-toward-1-shib/)