Shiba Inu’s burn rate reversed sharply with a 1,567% surge Saturday, destroying 1,157,800 tokens in 24 hours.
The sudden increase follows days of declining burn activity that bottomed at just 69,420 tokens Thursday.
SHIB price remains under pressure at $0.00000825, down 1.47% daily and 2% weekly despite the burn rate recovery.
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Burn tracking service Shibburn reported the dramatic reversal Saturday, with over 1.1 million SHIB tokens sent to dead wallets.
Thursday saw burn activity collapse 62.96% to just 69,420 tokens destroyed.
The weekly burn rate remains down 77.44% with 21.3 million tokens removed from circulation over seven days.
No specific catalyst has been identified for Saturday’s burn surge.
Community-driven burns continue despite SHIB trading near technical support levels amid broader market weakness.
Last week Coinbase also announced perpetual-style futures for SHIB, alongside 10 other altcoins.
The regulated derivatives product offers U.S. traders 24/7 access to SHIB exposure through Coinbase Derivatives.
Institutional recognition grew in October when T. Rowe Price, managing $1.77 trillion in assets, filed with the SEC for an Active Crypto ETF including Shiba Inu among eligible assets.
The burn rate surge demonstrates continued community commitment to reducing SHIB’s 589 trillion token supply.
However, the 1.16 million tokens destroyed represents 0.0002% of circulating supply, highlighting the scale required for meaningful impact.
Cryptocurrency analytics firm Glassnode indicates broader market conditions remain in a “mild bearish phase” with institutional selling pressure.
The Coinbase perpetual futures launch provides regulated access to SHIB derivatives for the first time on a U.S. exchange.
T. Rowe Price’s ETF filing marks the first potential inclusion of Shiba Inu in a U.S. securities product, potentially opening institutional investment channels.
With 17 days remaining in 2025, traders await potential catalysts that could shift momentum into year-end.
The disconnect between rising burn activity and declining price action reflects ongoing challenges in crypto markets following the October liquidation event that erased $19 billion in leveraged positions.
