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The Shiba Inu community has managed to move an impressive amount of meme coins out of the circulating supply this year, causing a large surge in this metric, even though the burns seen over the past day have been much, much smaller.
This is happening while analysts are predicting that meme coins could be on the brink of a massive bullish season.
SHIB burns spike by 535%, but here's catch
According to a recent report published by Shibburn on its official X account earlier today, over the past seven days, the joined efforts of the Shiba Inu community have resulted in the destruction of 194,735,741 SHIB meme coins.
This propelled the weekly burns up 534.94%. Still, the burn results over the past day are not that impressive. During the past 24 hours, the community succeeded in burning as little as 4,243,506 SHIB, thus pushing the metric 22.37% down.
Overall, since Dec. 31, the second-largest meme coin in the market, SHIB, demonstrated a massive 36% price surge, hitting $0.00000932 per coin on Jan. 4. Over the past day, however, it has dropped 7.9%, currently changing hands at $0.00000863 per coin. This price increase displayed by SHIB aligns with the overall price recovery of meme cryptocurrencies noted by a CryptoQuant analyst.
"Memecoins are rising from the dead" - analyst
CryptoQuant has published an X post about a potential meme coin season starting, sharing a report and tagging its author, analyst @Darkfost_Coc. The analyst believes that after the mania for meme assets came to an end in November 2024 and meme coin dominance on the altcoin market kept declining, it hit a historical low in December 2025.
However, this could be good news, the expert pointed out, since the last time this bottom was reached, it preceded the launch of a massive meme coin season.
The main metric to which the analyst pays attention here is the ratio of the market capitalization of top altcoins and major meme coins. He strongly believes that the current situation could signify the beginning of a meme coin comeback. However, he does admit that it is still very early to say for sure. Still, he says that many speculative investors could use this signal for managing their risks in the market.
Dan Burgin
U.Today Editorial Team
