u.today
Data shared by the popular wallet tracker Shibburn has revealed a massive increase in the $SHIB burn rate over the past day. Still, the amount of meme coins that have been destroyed by now is not impressive at all.
Meanwhile, the price of the second-largest meme cryptocurrency, Shiba Inu, has made a successful attempt to recover today after a 5% price decline yesterday.
$SHIB burns spike 286% but here's nuance
According to a tweet published by the aforementioned data source, over the past day, the $SHIB community has succeeded in pushing the burn rate metric by 286.84%. This seems like impressive growth. However, there is a catch here – only 269,722 $SHIB have been burned, a figure even less than 1 million coins and worth $3.28.
However, the situation with weekly burns is much better as a total of 13,772,405 $SHIB have been transferred to unspendable wallets over the past seven days. As for the burn rate reading, it is negative and constitutes minus 97.82% this time.
HOURLY $SHIB UPDATE$SHIB Price: $0.00001213 (1hr 0.18% ▲ | 24hr -1.48% ▼ )
— Shibburn (@shibburn) August 6, 2025
Market Cap: $7,147,120,361 (-1.54% ▼)
Total Supply: 589,247,920,323,965
TOKENS BURNT
Past 24Hrs: 269,722 (286.84% ▲)
Past 7 Days: 13,772,405 (-97.82% ▼)
$SHIB recovers after 5% decline
Over the past two days, the popular meme cryptocurrency, $SHIB, has decreased by roughly 5%. Today, $SHIB went up by 2.32%, but after that it was hit by a rebound and went down. At the time of this writing, the meme asset is changing hands at $0.00001213.
$SHIB here has followed the Bitcoin price trajectory as BTC fell by 2.13%, dropping from $115,350 to $112,890. After a rebound that followed, Bitcoin has reached the $114,000 level, where it is trading at press time.