New Year, New Fire: SHIB Army delivers a 505% uptick in weekly burns, kicking off a double-digit rally.
The general crypto markets enjoyed a rebound to $3.16 trillion on Friday evening, sparked by bullish Nvidia remarks & easing profit-taking pace for both retail & institutions. Shiba Inu coin (SHIB) sparked up a 14% rally to tackle $0.00000821 as a fresh weekly high.
Scales Back On Buyer Side Amid Big SHIB Burns
Despite the markets still in fear mode, the liquidity books on Spot markets showcase a rising appetite for on-risk assets, including altcoins & blue-chip memes. For Shiba Inu (SHIB), the buying orders on Friday piled up to $31.90 million, outweighing the $28.66 million in sales.
This comes along with high price correlation with both Dogecoin (DOGE) & Bitcoin (BTC), but the peer influence isn’t all. Shiba Inu’s own community, popularly referred to as SHIB Army, took it upon themselves this week to burn 194,830,385 tokens, deflating the supply.
Yet, Shiba Inu’s price performance in 2025 was in the red zone, so the head-start of 2026 has the popular canine meme coin still 90.69% down from the all-time high. Back in 2021, Shiba Inu coin hit $0.00008854 while briefly claiming a spot in crypto’s TOP 10 by global market capitalization.
Shiba Inu’s Main Issue As Bears Slowly Retreat
If the constant Shiba Inu (SHIB) supply elimination carries on, Shiba Inu custodians can expect the 585.28 trillion supply to deteriorate by a couple of trillion this year. However, this doesn’t guarantee any SHIB price appreciation without fundamentals, specifically the trading volumes.
Right now, Shiba Inu coin’s Spot market trades encircle $213.88 million in 24 hours – a figure considerably smaller than competing peers like Dogecoin (DOGE) & Pepe Coin (PEPE), both exceeding $1 billion as retail buyers step in. On Futures, the stats aren’t much different.
On one hand, Shiba Inu’s leveraged volume did indeed pick up pace with a 143.28% uptick on Friday. On the other hand, this represents just $128.24 million in volume, says CoinGlass data. Most notably, the Shiba Inu dog-encrusted meme coin’s Open Interest (OI) weighted funding rate is still highly in the red area, ultimately meaning that bulls are paying for short-selling positions.
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