Shiba Inu price is trading at $0.0000061, stuck between a sudden burst of deflationary activity and a backdrop of stifling macro sentiment.
As the community managed to remove over 68 million tokens from circulation in the last 24 hours, significantly increasing SHIB’s burn rate, the token saw a +2.7% rise overnight as the meme coin sector continues to gain momentum.
SHIB burn rate increases by +45% – over 6.8 million tokens burned in 24 hours as Shibarium txs rise and whales continue to accumulate trades (swap supply hits all-time low). FHE Privacy Upgrade on Track for Q2: Fully Confidential Transmission + Protected DeFi Upload. The ecosystem is heating up!#SHIB #ShibArmy pic.twitter.com/yloe1U6Gc5
– Shib Crypto Mind (@ShibMasterMind) March 12, 2026
Traders are now wondering if this supply shock is enough to counter the broader downtrend that is pushing meme coins towards critical support levels.
On-chain metrics are now in unison with the SHIB price chart.
For now, the market must decide whether the surge can continue to fuel this recent momentum or whether a reversal signal will trigger soon.
(SOURCE: TradingView)
SHIB burn rate: deflation compared to the reality of supply
According to data from the Shibburn tracking platform, the Shiba Inu ecosystem has aggressively activated its deflationary mechanism over the past day, incinerating a total of 68 million SHIBs.
This removal represents a substantial increase in burn rate, signaling a renewed community effort to reduce the circulating supply of the asset. In principle, these burning activities remain the ecosystem’s primary method of engineering crypto deflation, sending tokens to inaccessible “dead” wallets to permanently remove them from the ledger.
However, analysts warn that the sheer scale of existing supply mitigates the impact of these burns. Despite the destruction of 68 million tokens, Shiba Inu still has over 585 trillion SHIB in circulation.
As the Shibarium Layer-2 network continues to integrate burn mechanisms into its transaction fee structure to automate this process, current volume represents a microscopic fraction of the total market capitalization.
It is important to note that historical data indicates that consumption spikes do not guarantee price appreciation. As noted in previous market cycles, SHIB has seen exhaustion rates rise by thousands of percentage points without triggering a corresponding rally, suggesting that while the mechanism improves tokenomics on paper, it lacks the immediate leverage needed to overcome bearish market structures.
I check $SHIB weekly chart.
The falling wedge is tightening, a breakout is entirely possible. pic.twitter.com/lDG0mKs9OT
– $SHIB KNIGHT (@army_shiba) March 13, 2026
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Shiba Inu Price Analysis: Technical Weakness Persists
From a technical point of view, the analysis of the parts itself reveals a precarious configuration. SHIB is currently trading above $0.000006, up slightly +2.7% over the past 24 hours, but still anchored in a longer-term downtrend. The asset recently rebounded from a local low of $0.000005655, but the rally lacks the volume needed to confirm a reversal.
Traders are closely watching immediate resistance at $0.00000650. This level served as a ceiling for price action throughout the week.
A failure to recapture this area would likely invalidate the near-term bullish thesis derived from the blight news. Conversely, immediate support lies at $0.00000545, a level that bulls must defend to avoid sliding to psychological lows.
Momentum indicators paint a neutral to bearish picture. The relative strength index (RSI) is hovering at 43.60, indicating that while the asset is not yet in oversold territory, buying momentum is virtually non-existent. The price is also trading below its 50-day moving average, a classic indicator of bearish control.
Maxi Doge ($MAXI) $4.6M Presale Momentum Builds as Meme Coins Show Signs of Life
As Shiba Inu helps revive the coin space, Maxi Doge ($MAXI) is emerging as a premier pre-sale alternative, offering a defined entry point throughout its ongoing ICO phase.
(SOURCE: Maxi Doge)
Unlike SHIB, which carries billions of tokens and years of baggage, MAXI offers a fresh start with a clear roadmap. The project has already raised $4.6 million in capital in its initial funding rounds, signaling strong interest from retail participants looking for high upside potential absent from mature assets.
For investors hedging against the risk of SHIB stagnation, Maxi Doge presents a speculative vehicle with a distinct risk-reward profile. This is the perfect game for those who missed the early stages of DOGE, SHIB, and PEPE, all of which printed literal millionaires overnight.
MAXI is currently selling for $0.0002808, with just 48 hours left until the presale moves to its next price level, which will mark the end of this presale offer.
VISIT THE MAXI DOGE PRESALE HERE
EXPLORE: Best Solana Meme Coins to Buy
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article is intended to provide accurate and current information, but should not be considered financial or investment advice. Because market conditions can change quickly, we encourage you to verify the information for yourself and consult a professional before making any decisions based on this content.
Daniel Frances is a technical writer and Web3 educator specializing in macroeconomics and DeFi mechanics. Hailing from crypto since 2017, Daniel leverages his experience in on-chain analytics to write evidence-based reports and in-depth guides. He holds certifications from the Blockchain Council and is dedicated to providing “insight gain” that overcomes market hype to find real utility for blockchain.
