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Shiba Inu has seen 6.75 million tokens sent to dead wallets in the last 24 hours, with the daily burn rate rising 140%. This continues SHIB's deflationary momentum, which has seen 410,840,395,512,922 Shiba Inu tokens sent to a null address where they can't be retrieved or used, reducing SHIB's supply.
41.08% of Shiba Inu's initial 1 quadrillion supply has been burned, with the dog coin now left with 58.92%.
This week, as reported, Shiba Inu hit a burn milestone with total burn transactions surpassing 21,000, currently at 21,193. This suggests a consistent burn mechanism by the community, with millions of SHIB being sent to dead wallets at a continuous pace.
In the last seven days, 43.75 million SHIB were burned, adding to a total of 267.58 million SHIB in thirty days.
SHIB price
At the time of writing, SHIB was up 0.96% in the last 24 hours to $0.00000417 and down 4.87% weekly.
The mixed price action follows cooler-than-expected producer and consumer price data this week, while U.S. jobless claims for the week ending July 11 came in lower than forecasted, at a seasonally adjusted 208,000.
The University of Michigan's index on consumer sentiment rose to 54.4, topping a Dow Jones consensus of 50.5.
SHIB gets a boost in Japan
Japan passed major amendments to the Financial Instruments and Exchange Act (FIEA) on July 15, 2026, marking a turning point for the country's crypto market.
The amendments do not classify Bitcoin or Ethereum as securities but rather label cryptocurrencies as investment products. The aim is to provide a regulatory framework that will boost engagement from banks, securities firms, asset managers, and institutional investors while increasing investor protection.
Shiba Inu, which is already on the Japan JVCEA Green List, which makes it easier for regulated platforms in the country to list SHIB, might stand to benefit from the recent move.
Dan Burgin
U.Today Editorial Team
