The Shiba Inu (SHIB) community has reignited its aggressive burn campaign, sending millions of SHIB tokens to dead wallets in a move that pushed the daily burn rate up by a staggering 41,016%. At the same time, SHIB’s price appears to be forming a bull flag—a technical setup often followed by an upward breakout. To top it off, SHIB’s lead developer, Shytoshi Kusama, has finally released the long-anticipated SHIB AI whitepaper, sparking fresh excitement across the community.
SHIB Burn Rate Spikes 41,016%
According to data from blockchain tracking platform Shibburn, the SHIB community burned 2,265,904 SHIB over the past 24 hours. While the total amount burned may seem modest, it triggered an eye-popping 41,016% increase in the daily burn rate.
The largest individual transactions made a significant contribution to this surge. One wallet burned 1,000,000 SHIB, and another removed 850,808 SHIB, both sending the tokens to unrecoverable “dead” addresses.
Despite the explosive daily percentage, the weekly burn rate tells a more complex story. In percentage terms, it plunged 89.53%, indicating a sharp drop from the previous week. However, the actual number of tokens burned over the past seven days stands at a substantial 111,334,233 SHIB—nearly 50 times the daily total. Most of that came from a single massive burn event on Friday that destroyed 100,138,071 SHIB in one transaction.
SHIB Price Action Hints at Bullish Breakout
Over the weekend, SHIB’s hourly chart displayed a sequence of fluctuating movements now forming what analysts identify as a Bull Flag pattern. This chart pattern, often seen during consolidation phases, usually precedes a breakout to the upside when confirmed.
Market participants are watching closely, as this technical formation coincides with an increase in social buzz and renewed on-chain activity driven by the latest whitepaper release.
Shytoshi Kusama Unveils SHIB AI Whitepaper
Adding to the momentum, Shytoshi Kusama, SHIB’s lead developer, published the long-awaited SHIB AI whitepaper, a move that had been teased earlier this year. The document outlines a dystopian, cyberpunk vision of AI’s integration into human life. Kusama described this vision as if he had witnessed it firsthand, even claiming metaphorically to have “travelled through time” to experience the future he outlines.
While some readers interpreted his tone as cautionary, others saw the whitepaper as a roadmap for SHIB’s integration into broader AI-driven ecosystems, potentially expanding SHIB’s use cases and community influence.
Related article Altcoins With Upcoming Upgrades That Could Explode Before August
Final Thoughts
SHIB is currently experiencing a convergence of powerful signals, including a massive burn spike, bullish technical indicators, and a fresh narrative surrounding AI integration. Whether these developments lead to a significant price breakout remains to be seen, but the SHIB community is clearly ramping up its efforts to keep the meme coin relevant, and potentially more valuable, in a rapidly evolving market.
