Over 1.5 million SHIB tokens were destroyed in the last day, but this didn’t increase the overall burn rate. In fact, fewer SHIB tokens were burned today compared to the previous day, meaning the daily burn rate actually decreased.
Over the past 24 hours, 1,535,066 SHIB tokens were destroyed, a decrease of 43% from the previous rate, according to data from Shibburn.
The amount of Shiba Inu (SHIB) being permanently removed from circulation has been decreasing consistently since May 27th. After burning over 7 million SHIB on that day, the burn rate briefly increased on May 29th to over 3 million, but then continued to fall, resulting in a lower daily burn rate.
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Over the past week, 20,142,516 SHIB tokens were destroyed, but the rate at which these tokens are burned has decreased. According to data from Shibburn, the weekly burn rate fell by 44.22% because fewer tokens were eliminated during this period.
SHIB eyes bearish close in May
As May comes to a close, the cryptocurrency market is heading for its first monthly losses in a while. Shiba Inu, currently valued at $0.00000546, has dropped around 12.50% throughout May.
As a researcher tracking Shiba Inu, I’ve observed that it began May trading at $0.00000637. Unless we see a significant price increase soon, Shiba Inu is on track to end the month with losses, which would break its recent two-month period of gains.
SHIB saw small increases in March and April, rising 3.63% and 4.17% respectively. As of today, Shiba Inu’s price has decreased by 0.84% over the last 24 hours and 1.97% over the past week.
As an analyst, I’ve been watching Shiba Inu closely, and it’s good to see it recovering towards the end of the week after a five-day dip. The broader crypto market got a lift on Friday thanks to the CFTC’s approval of bitcoin perpetual futures contracts on Kalshi, a regulated exchange – it’s the first product of its kind to be domestically regulated in the U.S. Plus, the CFTC also cleared a path for Coinbase to connect its customers to international options and futures markets, which is a positive development for the space.
As a researcher following this market, I’m seeing a likely support level around $0.000005 if prices continue to fall. However, if we see a bounce, I anticipate resistance around $0.000006, which aligns with the 50-day moving average.
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2026-05-31 18:16