Although the broad crypto market is showing mixed price action, the Shiba Inu ecosystem appears to have kicked off 2026 to a bullish start following an aggressive surge in its network activity.
The dog-themed meme asset has recorded unusually large burn activity, which saw over a hundred million dollars worth of SHIB being destroyed in just 24 hours.
Over $172 million SHIB disappear
On Thursday, Jan. 1, on-chain data from Shibburn reveals that the Shiba Inu burn rate increased by over 10,728.80% in the past 24 hours.
With this explosive surge in the Shiba Inu daily burn rate, about $172 million worth of SHIB tokens were sent to unrecoverable wallets over the late day.
While the regular SHIB burn activity is majorly targeted at reducing the asset’s circulating supply to boost scarcity, the Shiba Inu supply now stands at 585.29 trillion SHIB after the significant burn activity.
Further data showcased by the source shows that multiple burn transactions witnessed over the last day have contributed significantly to the surge with about 171.68 million SHIB sent to the burn address in one single transfer.
While the total SHIB burned over the last day happened via a few separate transactions, one other notable burn activity involved the transfer of about 1.11 million SHIB to a dead wallet and several other smaller transfers were executed within the last 24 hours.
Together, these transfers pushed the total Shiba Inu daily burns to 172.89 million SHIB in just one day, signaling renewed attention and optimism across the SHIB community.
What to expect from SHIB in 2026?
Although Shiba Inu had entered new year trading in the red territory, the explosive burn rate has provided a positive outlook for Shiba Inu.
While it reflects growing engagement from both retail traders and institutions, the massive burn activity positions Shiba Inu for a potential rally, which could drive bullish momentum for the most part of Q1, 2026.
Dan Burgin
Caroline Amosun
Gamza Khanzadaev
Godfrey Benjamin