Shiba Inu Burns 60 Million SHIB In A Single Transaction: What Is Going On?

by Khyathi Dalal Benzinga Staff Writer

Zinger Key Points

Shiba Inu burn rate surges 240%, with 70 million SHIB destroyed in the past 24 hours.
Traders eye massive upside, with one setting a breakout target 550% higher and another calling current levels a good entry point.
Get our list of 10 overlooked stocks—including one paying a 9% dividend—before Wall Street catches on.

Shiba Inu SHIB/USD is seeing a significant uptick in on-chain activity and surging burn rates even as prices consolidate.

Cryptocurrency	Price	Market Cap	24-Hour Trend	7-Day Trend
Shiba Inu SHIB/USD	$0.00001163	$6.9 billion	-2.9%	+6.2%
Dogecoin DOGE/USD	$0.1534	$22.8 billion	-4.07%	-5%
Pepe PEPE/USD	$0.0₅7127	$2.99 billion	-3.2%	-12.4%

Trader Notes: Crypto trader Javon Marks remains bullish, stating that SHIB’s first major breakout target sits over 550% higher at $0.000081.

Meanwhile, Crypto Sheriff noted SHIB is at a "good level to take risks," suggesting the recent consolidation at key support could spark a fresh uptrend wave.

Don't Miss:

Thanks for being a Benzinga reader! As a small thank you, buy $100 worth of crypto on Gemini and receive $20 in free Bitcoin with code BENZINGA20.
Trade crypto futures on Plus500 with up to $200 in bonuses — no wallets, just price speculation and free paper trading to practice different strategies.

Trade Bitcoin, Ethereum, and More Instantly — No Wallets, No Hassle

Speculate on price movements, claim up to $200 in bonuses, and start with risk-free paper trading with crypto futures on Plus500.

Disclosure: 82% of retail CFD accounts lose money

Statistics: Shiba Inu’s burn rate jumped 239.8%, with 70.88 million SHIB removed from circulation in the past day. Notably, 60.5 million SHIB were burned in a single transaction roughly ten hours ago, according to Shibburn data.

IntoTheBlock data shows large transaction volume increased 5.1% and daily active addresses spiked 39.9% in a single day. Transactions greater than $100,000 increased from 36 to 50.

Shiba Inu's concentration by large holders remains at 74%, implying long term stability and traders’ confidence in its performance.

Shibariumscan data shows daily transactions having jumped from 3.03 million as of April 14 to 4.28 million as of April 15.

New Shibarium accounts have increased from 133 to 183.

Related Bonuses: