Shiba Inu price rose to $0.00000603 on September 26, gaining 3.18% over 24 hours as traders responded to a reported surge in token burns. The move extended SHIB's weekly recovery, with the token advancing 7.54% over the week.
The burn rate climbed approximately 580% in a single day, according to Shibburn's tracker. About 15 million SHIB tokens were destroyed during the period, valued at roughly $89. The tracker recorded this activity following a sharp rise in morning burn transactions.
The destruction represents part of a broader burn history: approximately 410.84 trillion SHIB have been destroyed across 21,870 transactions, accounting for 41% of the original one quadrillion token supply. Circulating supply stands near 585.47 trillion SHIB.
While token burns reduce available supply, a single day's spike in burn activity does not necessarily signal a lasting change in market demand. Sustained trading activity and continued burns will help determine whether the surge persists.
Price Action and Technical Levels
SHIB extended its recovery from a mid-September low near $0.00000475, with the price now approaching $0.00000620—a level that halted advances earlier in the week. A sustained break above that resistance would bring $0.00000650 into focus.
The four-hour RSI stands at 57, indicating stronger momentum while remaining below the 70 level commonly watched by traders. The MACD line has moved above its signal line with a slightly positive histogram, both supporting the recovery. However, analysts note the price must clear $0.00000620 to confirm a sustained breakout.
If the recovery stalls, $0.00000550 represents the nearest support level. A break below it would weaken the rally and return lower September price levels into view.
Bitcoin held above $84,000 and Ether traded near $2,690 during the period, while several other meme tokens including Dogecoin also advanced.
