Shiba Inu is seeing its first burn rate drop in 2026. According to Shibburn, the Shiba Inu burn rate is down 97.83% in the last 24 hours, marking its first drop in the new year 2026.
The new year kicked off with a surge in Shiba Inu metrics: the burn rate increased by over 12,000%, Shiba Inu's price saw a sharp rise, and open interest rose as much as 20% to outperform most major cryptocurrencies.
The reverse is seen in the last 24 hours, with the Shiba Inu burn rate dropping 97.83%, compared to the prior day when 173,007,224 SHIB were burned, resulting in a 12,025.45% increase in burn rate.
Despite the drop in the last 24 hours, 3,777,885 SHIB were burned, according to Shibburn. The amount of SHIB in the last seven days was higher, resulting in a positive increase in weekly burn rate.
According to Shibburn, 193,830,385 SHIB were burned in the last seven days, representing a 502.42% surge in weekly burn rate.
The recent burns have lowered Shiba Inu's total supply, which is now 589,245,844,288,847 SHIB.
SHIB begins 2026 on strong note
Shiba Inu saw a solid start to 2026 as its price saw a sharp increase on 2026's first day. SHIB's price rose from $0.00000688 to $0.00000751 on Jan. 1, posting a large green candlestick and reversing a three-day drop from a high of $0.00000756 on Dec. 29.
The rise continued early Friday with Shiba Inu reaching $0.00000765, last seen Dec. 17. At the time of writing, SHIB was up 7.35% to $0.000007523 and 4.51% weekly. In the last 24 hours, Shiba Inu's trading volume was higher 35.17% to $134 million.
The current Shiba Inu setup seems like positioning ahead of the next leg higher. Being the start of a new year, traders seem to be adjusting their positioning, ahead of the next move in the markets.
In this scenario, the next resistance target lies at $0.000008 and $0.0000011, while support remains in the $0.000007 range.
In a year-end letter to the Shiba Inu community, SHIB developer Kaal Dhairya said the year 2026 "won't be about hype. It will be about repair, focus, and building something that can actually last."
