Shiba Inu Price Eyes Recovery as Burn Rate Soars 17,134% in 24 Hours

The Shiba Inu burn rate rose 17,134.60% over 24 hours, according to Shibburn’s October 3 dashboard. SHIB traded at $0.00000572, down 2.30%, while its market capitalization fell 2.34% to approximately $3.37 billion. 

The crypto market declined over the past 24 hours as Bitcoin hovered below $85,000. Ethereum and XRP had minor consolidations where both cryptocurrencies had minor movements throughout the trading period.

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Shiba Inu Burn Rate Surges Over 17,000% as SHIB Falls

Shibburn recorded 2,976,589 SHIB burned during the period, with an estimated value of $17. The largest listed transaction involved 2,622,378 tokens from an address the tracker labeled Coinbase.

Another transaction involved 179,289 SHIB from an address labeled Robinhood, while a separate wallet burned 174,923 tokens. These transfers occurred between October 2 and October 3, according to the tracker’s transaction records. 

Weekly burns reached 102,767,542 SHIB, while the 30-day total stood at 421,865,854 tokens. Shibburn valued those amounts at approximately $599 and $2,300, respectively. 

The total number of SHIB burnt by the tracker in history is 410,844,457,261,735 SHIB, which corresponds to about 410.84 trillion tokens. This is 41.08% of the initial one quadrillion supply, with 58.92% still in circulation. 

In the past hour, there have been a total of 174,923 $SHIB tokens burned (1 transaction)#shib pic.twitter.com/kQbRuR1qJF

— Shibburn (@shibburn) October 3, 2026

The total supply was around 589.16 trillion SHIB, with about 585.47 trillion tokens in circulation. Shibburn also reported 21,882 burn transactions throughout its burn history. The trading volume increased to $72.75 million per day, ranking SHIB 35th in the cryptocurrency market value list.

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Is Shiba Inu Price Heading for a Breakout or Another Decline?

SHIB was priced around $0.00000574 on October 3, and the most recent 4-hour timeframe candle has increased by 0.35%.  

Shiba Inu price kept above the support level of $0.00000550 and the support is now in the middle of the immediate technical picture.

The token previously tested $0.00000620 before backing off, and rebounds have failed to make any gains to push the token above $0.00000600. 

The relative strength index was at 49. The overall tone of this reading is broadly neutral with a slight bearish tone.

The MACD line was below the signal line, and both were below zero. The little negative histogram bars showed that the downward momentum was still present, but it wasn’t very strong.

Based on the marked levels, holding support could allow another attempt toward the first target at $0.000006. A sustained four-hour close above that barrier would bring $0.00000620 into focus as the next potential target for the future SHIB outlook.

A four-hour close below $0.00000550 would weaken the recovery setup and expose the earlier support area near $0.000005.