Shiba Inu has regained momentum following a sharp increase in the daily burn rate of its tokens. This has reinvigorated the confidence of holders known as SHIB Army just at the time when the token is testing a crucial price ceiling this week for the third straight time.
SHIB briefly recovered the resistance level of $0.00000600 on March 23, 2026. Tokens made unsuccessful attempts at breaking past the $0.00000625 resistance level. A new catalyst is now in place, which puts SHIB into position to make a third effort at breaking through that barrier.
Shibburn’s latest data shows that 23,729 119 SHIB Tokens have been destroyed in a 24 hour period. The burns were executed in ten separate transactions. Three transactions involved the transfer of millions of tokens to wallets that were dead in one move.
One of the largest burns involved 14,235.163 SHIB that were sent to an address with no name. Etherscan confirms the transaction was worth just under $105 when it took place. This burn increased SHIB’s daily destruction by 1,086.38%. Traders and holders were interested in this figure.
The Exchange Reserves are a Sign of a Tighter Market
The SHIB circulating stock on central exchanges is rapidly decreasing. Etherscan’s data shows that the token reserves are now 585.48 trillion after Thursday’s burning. The balances of major exchanges, such as Binance and Coinbase are also declining.
Around 80.9 trillion SHIBs were traded on major exchanges at the beginning of March 2026. This is a significant drop from the previous 166 trillion tokens. Profit-taking since has added approximately 300 billion tokens to the exchange reserve, pushing it up to 81.2 trillion. Overall, the trend is still sharply down.
The tightest reserve in more than two years is the result of this supply compression. If demand is stable or increasing, then the market will face upward pressure on prices when tokens are less available. This dynamic occurs in real-time for SHIB.
The trading volume for Thursday was just over $113 Million. This figure represents a limited level of speculative activities for the time being. This suggests that the current price movements are more driven by supply dynamics than short-term speculation.
Holders Reduce Sell Pressure by Shifting to Self-Custody
The movement of SHIB into wallets for self-custodial is a notable trend that has accompanied the squeeze in supply. Token holders who transfer their assets from exchanges effectively remove those tokens from the immediate selling pressure. This behaviour signals a long-term commitment rather than a short-term trade intent.
The shift in the market is important. The price gap between SHIB and the constrained SHIB supply will likely narrow as fewer tokens are available on exchanges. Shiba Inu is currently trading at $0.00000594. This represents a drop of 2.51% over the past 24 hours.
