Shiba Inu Burn Rate Jumps 1,086% — Can SHIB Break $0.00000625 Resistance?

Shiba Inu (SHIB) is experiencing renewed momentum, fueled by a dramatic increase in its daily token burn rate. This development has bolstered confidence among its holders, the SHIB Army, as the token tests a critical price resistance level for the third time this week. On March 23, 2026, SHIB briefly surpassed the $0.00000600 mark before facing resistance again around $0.00000625.

Spike in Token Burns

Data from Shibburn reveals that 23,729,119 SHIB tokens were destroyed within a 24-hour period through ten separate transactions. Notably, three of these burns involved multi-million token transfers to dead wallets. The largest single burn event sent 14,235,163 SHIB to a null address, valued at just over $105 at the time. This surge accelerated SHIB's daily destruction rate by an impressive 1,086.38%, capturing the attention of traders and long-term investors.

Exchange Reserves Signal Market Tightening

Concurrently, SHIB's circulating supply on centralized exchanges is rapidly decreasing. Etherscan data indicates that remaining token reserves on exchanges stand at 585.48 trillion following the recent burns. This figure represents a significant decline from the approximately 80.9 trillion SHIB held on major exchanges at the start of March 2026, and a steep drop from the 166 trillion recorded two years prior. Although some profit-taking has added around 300 billion tokens back to exchange reserves, the overall trend remains sharply downward, marking the tightest exchange reserve count in over two years.

This supply compression typically exerts upward price pressure on a token, assuming demand remains stable or increases. Current trading volume on Thursday was just over $113 million, suggesting that the price movement is currently driven more by supply mechanics than by speculative activity.

Shift to Self-Custody Reduces Sell Pressure

Accompanying the supply squeeze is a notable trend of SHIB holdings moving into self-custodial wallets. When tokens are transferred off exchanges, they are effectively removed from immediate sell pressure, signaling long-term conviction among holders. This shift is significant as fewer tokens on exchanges are likely to narrow the gap between SHIB's price and its constrained supply.

At the time of writing, Shiba Inu trades at approximately $0.00000594, a slight decrease of 2.51% in the last 24 hours.