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Shiba Inu (CRYPTO: SHIB) is seeing a new spike in its burn rate spike, just a day after Dogecoin's ETF debut energized meme coin markets.
| Cryptocurrency | Ticker | Price | Market Cap | 7-Day Trend |
| Shiba Inu | (CRYPTO: SHIB) | $0.00001303 | $7.7 billion | -2% |
| Dogecoin | (CRYPTO: DOGE) | $0.2656 | $40.1 billion | +0.6% |
| Pepe | (CRYPTO: PEPE) | $0.00001075 | $4.5 billion | +2.2% |
Trader Notes: Crypto trader Javon Marks highlighted Shiba Inu's confirmed bull signal, forecasting a potential +138% rally toward $0.000032. "It's now a matter of timing only," he wrote.
InvestingHaven pointed out SHIB is consolidating around $0.000013 following a flash loan exploit that shaved 5% off its value.
With Shibarium upgrades and auto burns tightening supply, analysts called the move a "tactical pullback" but warned risks remain.
Statistics: Shibburn data shows 1.07 million SHIB were burned from the ecosystem over the past 24 hours, pushing the burn rate higher by 1,431.4%.
However, Shibariumscan data shows daily transactions have been on the decline since late August when it lost the 4 million mark.
CoinDesk reported Shiba Inu whale activity intensified with more than 7 trillion SHIB moved on-chain on Saturday, which also included 512 billion SHIB transferred from Kraken to undisclosed addresses.
Community News: During the week, Shiba Inu confirmed its Layer-2 network, Shibarium, was hacked, with $4 trillion in crypto stolen.
The team is offering a 50 ETH (~$229,000) bounty for the attacker to return the funds.
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