In the last 24 hours, exactly 1 million SHIB were burned, according to Shibburn, but this has failed to create an increase in SHIB burn rate.
The Shiba Inu rate has dropped 32.29% on a daily basis, indicating a lesser amount of SHIB burned compared to the day before.
At the time of writing, Shiba Inu burns were still ongoing, with an additional 1,000,000 SHIB burned, bringing the total burned in the last 24 hours to 2,000,002 SHIB tokens.
In the last seven days, a total of 29,080,015 SHIB tokens were burned, marking a slight increase in weekly burn rate, about 5.5%.
The burn action has slightly reduced Shiba Inu’s total supply, which is now at 589,246,036,059,231 SHIB, according to Shibburn. Shiba Inu had an initial supply of 1 quadrillion tokens at its inception.
Shiba Inu eyes year-end reversal
With just three days to the end of 2025, Shiba Inu appears to be making last-minute moves alongside the rest of the market.
Shiba Inu was rising alongside the markets on Sunday; at the time of writing, SHIB was up 2.82% in the last 24 hours to $0.000007362.
Shiba Inu began to tick higher on Dec. 26, although price broadly remained in a range. Shiba Inu began to rise from a low of $0.000007 on this day, Saturday saw a sharp increase to $0.00000739.
The rise continued on Sunday with Shiba Inu reaching $0.0000074 before slightly dropping. Despite this, Shiba Inu remains down 11.84% in December so far, on track for its fifth red month since July.
A “Santa Claus” rally, which would allow the price to rise in the last five trading days of the year and the first two of the new one, might be the only saving grace presented to Shiba Inu in order not to close December in losses.
In this scenario, Shiba Inu would aim for $0.00000765 ahead of other resistance targets at $0.00000843 and $0.00001125.
Support is expected at the $0.000007 range in case bulls’ attempt in recreating a Santa rally fails.
In the short term, crypto traders continue to watch out for signals on where the market might head next.
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