Shiba Inu (SHIB) burn activity fell 73.89% over the past 24 hours, with just 3.64 million tokens removed during the period, according to data from burn tracker Shibburn. The slowdown comes as the token rebounds from its August lows, recovering 3.17% to trade around $0.00000457. The $0.00000430-$0.00000440 zone remains key support, while $0.00000500 represents immediate resistance.

The latest hourly burn involved a single transaction that removed 218,192 SHIB, worth approximately $1. Weekly activity also declined, with 38.28 million SHIB removed over the past seven days — a 23.66% decrease for that period, according to Shibburn's figures.

Burn Data and Market Snapshot

SHIB's circulating supply stood at 585.65 trillion tokens, while total supply remained at 589.16 trillion SHIB, according to the reported figures. That supply level reflects SHIB's history with large-scale burns: the token launched in August 2020 with a one-quadrillion total supply, and Ethereum co-founder Vitalik Buterin burned roughly 410 trillion SHIB in May 2021 after being sent half the initial supply.

Burns remove tokens permanently by sending them to dead wallets — addresses with no accessible private keys — and Shibburn aggregates these on-chain transactions. Because daily totals often hinge on one or two large transfers, 24-hour percentages can swing sharply; the latest hourly figure, for instance, came from a single transaction. The scale is also small relative to the overall token count: 3.64 million SHIB is a negligible fraction of the 585.65 trillion tokens in circulation. Burn activity additionally has a programmatic component, as the Shiba Inu team introduced an automated burn mechanism on its Shibarium layer-2 network in January 2024 that uses a portion of network transaction fees to remove SHIB, tying part of the burn cadence to on-chain usage. The token ranked No. 35 by market capitalization.

SHIB gained 3.17% over 24 hours to trade around $0.00000457, bringing its market capitalization to $2.69 billion — an increase of 3.14% over the same period. The token's 24-hour trading volume reached $85.33 million.

SHIB Rebounds From August Support Zone

Price action shows SHIB falling toward the $0.00000430-$0.00000440 zone between August 12 and 14. The decline followed repeated failures around the $0.00000500 area earlier in August, but the token has since recovered toward $0.00000457.

The move comes after a broader consolidation period that followed late-July volatility. SHIB surged above $0.00000550 around July 25-27 before retreating sharply, and it then spent much of the following period moving within a wider range.

The $0.00000430-$0.00000440 area currently represents immediate support for the token, while $0.00000500 remains the key resistance level.

RSI and MACD Show Improving Momentum

The 14-period relative strength index (RSI) currently stands at 53.26, above its average near 48.74. The indicator has moved above the neutral 50 level without reaching the 70 overbought threshold, signaling improving short-term momentum.

The moving average convergence divergence (MACD) has turned mildly positive as well. Its histogram stands near 0.00000002, while the MACD and signal readings sit near 0.00000001 and -0.00000001, respectively.

Volume currently stands around 381.52 million SHIB, with stronger volume having accompanied both the late-July breakout and the latest rebound.

On the technical map, a sustained move above $0.00000500 with stronger volume could expose the $0.00000550-$0.00000570 zone. Conversely, a drop below $0.00000430 could expose SHIB to another decline.