Shiba Inu Burn Activity Removes Millions as SHIB Demand Climbs

**Key Insight **

• Shiba Inu removed more than six million SHIB tokens from circulation within twenty-four hours, extending broader deflationary supply trends further.

• Indian crypto traders kept SHIB among the most traded digital assets on WazirX during April, supporting strong regional market demand.

• SHIB maintained gains above its fifty-day moving average while traders monitored resistance near the important 200-day average level.

Shiba Inu recorded another decline in circulating supply after holders transferred 6,079,210 SHIB tokens to inactive wallets during the past 24 hours. Data from Shibburn showed the latest burn activity lifted the weekly total to 33.5 million SHIB, while monthly burns approached 197.4 million tokens as community members continued reducing available supply across the market.

The latest burn activity removed more tokens from circulation as traders monitored the impact on long-term supply trends. Shibburn data also showed that more than 410.8 trillion SHIB tokens have now been permanently removed from the original one quadrillion supply, representing roughly 41% of the total issued amount. The burned supply currently carries an estimated market value above $7.3 billion.

Burn Rate Shows Mixed Momentum

Daily burn activity increased 37.28% compared with the previous session. However, weekly burn figures declined more than 40%, reflecting uneven participation from wallet holders and community-driven initiatives. Besides, market watchers continued tracking whether stronger burn activity could support broader price stability as volatility returned to digital asset markets this week.

Shiba Inu also maintained strong trading activity in India during April. Exchange data from WazirX ranked SHIB among the five most traded cryptocurrencies on the platform, placing it behind Bitcoin while remaining ahead of several major altcoins. Additionally, Ethereum, Dogecoin, and XRP also ranked among the most actively traded digital assets on the exchange.

Market Sentiment Supports Recovery

Broader market sentiment improved after fresh labor market data in the United States showed the economy added 115,000 jobs during April. Consequently, investors increased exposure to risk assets such as equities climbed to record levels, and several alternative cryptocurrencies moved higher during Friday trading sessions across global markets.

Shiba Inu traded near $0.00000641 at the time of reporting, reflecting a daily gain of roughly 2% and a weekly increase near 3%. The token has gradually recovered since falling to $0.00000607 on April 30. However, SHIB continues trading within a broader range between $0.0000058 and $0.00000656 that has remained intact since mid-March.

Technical Levels Remain in Focus

Technical indicators showed SHIB holding above its daily 50-day moving average, which traders often view as an important support area. Moreover, analysts continued watching the daily 200-day moving average near $0.00000730 as the next resistance level if bullish momentum continues building across the meme coin market. Trading volumes also increased steadily during the latest rebound across major cryptocurrency exchanges.