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Following
SHIB A 530% surge in SHIB destruction activity strengthens the token supply shrinking narrative
gaining support around $0.0000440, which may push prices towards $0.0000477 and $0.00000500. Despite improved MACD momentum and stable RSI readings, weak trading volume remains a concern.
Shiba Inu has regained market attention as token destruction activities increase significantly. During the most recent trading session, SHIB rose 0.93% to approximately $0.0000450. The destruction rate has soared by more than 530%, bringing positive factors to the supply and demand side. However, sluggish trading volumes continue to dampen buyer confidence. SHIB is currently facing a critical test of US$0.0000440 support. If the recovery continues, it is expected to push this meme token towards US$0.0000500.
Supply shrinking drives SHIB destruction rates soaring
Shiba Inu's recent rebound stems from a resurgence in community destruction programs. The process permanently removes tokens from circulation by sending them to inaccessible addresses. Such destruction aims to gradually reduce the huge supply of the token. The latest tracking data shows that daily destruction activities increased by 530.03%. In the most recently reported hour, a transaction destroyed 448,431 SHIBs.
Since then, the hourly destruction volume once approached 8 million tokens around 14:00. Since its launch, the Shiba Inu community has destroyed a total of approximately 410.84 trillion SHIBs. These tokens are currently valued at more than US$7.35 billion. Destroyed tokens accounted for approximately 41.08% of SHIB's initial total supply of 1000 trillion yuan. According to dashboard data, the number of SHIBs in circulation is currently approximately 585.65 trillion.
The tracker also recorded more than 21,500 independent destruction transactions. These numbers highlight the scale of SHIB's supply-reduction operations. Despite this, destruction alone does not guarantee continued price increases. If SHIB is to maintain its upward trend, it must be accompanied by stronger demand while reducing supply. Currently, trading activity remains relatively moderate, at approximately US$50.79 million.
SHIB prices are targeted at US$0.0000500, and market momentum is improving.
SHIB recently rose 1.13% in four hours to around US$0.00000449. The token hit a low of about $0.0000443 for the day, and buyers also pushed it to a high of about $0.0000453 for the day. Currently, the price of US$0.0000440 provides an important basis for a rebound. Holding this support level may encourage buyers to target $0.0000477, which was previously an important support area.
If it breaks through US$0.0000477 decisively, the market focus may shift to US$0.0000500. If momentum is further strengthened, SHIB is expected to challenge US$0.0000550. Technical indicators give mixed signals, but are improving. The RSI is near 47.94 and there is still room before entering bullish territory. At the same time, the MACD histogram has turned slightly positive.
This shift suggests that short-term momentum may be recovering after a long period of weakness. However, SHIB still needs stronger trading volume to verify its recent trend. A break below US$0.0000440 will weaken the current rebound pattern and may push prices further down to support levels near US$0.0000420 and US$0.0000400. Currently, bulls have a clear opportunity, but confirmation signals remain crucial.
