The Shiba Inu price is trading at $0.0000061, trapped between a sudden surge in deflationary activity and a suffocating macro sentiment backdrop.
As the community successfully removed over 68M tokens from circulation in the last 24 hours, spiking the SHIB burn rate significantly, the token enjoyed a +2.7% pump overnight as the meme coin sector continues to gain momentum.
SHIB burn rate surges +45% — 6.8M+ tokens torched in 24h as Shibarium txs spike & whales keep stacking off exchanges (exchange supply hitting lows). FHE privacy upgrade on track for Q2: full confidential txs + shielded DeFi loading. Ecosystem heating up!#SHIB #ShibArmy pic.twitter.com/yloe1U6Gc5
— Shib Crypto Mind (@ShibMasterMind) March 12, 2026
Traders are now questioning whether this supply shock is enough to counter the broader bearish trend that is pushing meme coins toward critical support levels.
On-chain metrics are now in unison with the SHIB price chart.
For now, the market is deciding whether the burn can continue to fuel this recent momentum or if a reversal signal will flash soon.
SHIB Burn Rate: Deflation vs. Supply Reality
According to data from the tracking platform Shibburn, the Shiba Inu ecosystem aggressively activated its deflationary mechanism over the past day, incinerating a total of 68M SHIB.
This removal represents a substantial uptick in the burn rate, signaling renewed community effort to reduce the asset’s circulating supply. In principle, these burn activities remain the ecosystem’s primary method for engineering crypto deflation, sending tokens to inaccessible “dead” wallets to permanently remove them from the ledger.
However, analysts warn that the sheer scale of the existing supply dampens the impact of these burns. Despite 68M tokens being destroyed, Shiba Inu still has over 585 trillion SHIB in circulation.
While the Shibarium Layer-2 network continues to integrate burn mechanisms into its transaction fee structure to automate this process, the current volume represents a microscopic fraction of the total market cap.
Critically, historical data indicate that burn spikes do not guarantee price appreciation. As noted in previous market cycles, SHIB has seen burn rates surge by thousands of percentage points without triggering a corresponding rally, suggesting that while the mechanism improves tokenomics on paper, it lacks the immediate leverage to overcome bearish market structures.
I’m checking $SHIB weekly chart.
Falling wedge is tightening, a breakout is quite 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 perspective, meme coin analysis reveals a precarious setup. SHIB is currently trading above $0.000006, up marginally by +2.7% over the last 24 hours, but still entrenched in a longer-term downtrend. The asset recently bounced from a local low of $0.000005655, but the recovery lacks the volume required to confirm a reversal.
Traders are closely monitoring the immediate resistance at $0.00000650. This level has acted as a ceiling for price action throughout the week.
A failure to reclaim this zone would likely invalidate the short-term bullish thesis derived from the burn news. Conversely, the immediate support sits at $0.00000545, a level that bulls must defend to prevent a slide toward psychological lows.
Momentum indicators paint a neutral-to-bearish picture. The Relative Strength Index (RSI) is hovering at 43.60, indicating that while the asset is not yet in oversold territory, buying momentum is virtually non-existent. The price is also trading below its 50-day Moving Average, a classic indicator of bearish control.
Maxi Doge ($MAXI) $4.6M Presale Momentum Builds as Meme Coins Show Signs of Life
While Shiba Inu is helping reignite the meme coin space, Maxi Doge ($MAXI) is emerging as a blue-chip presale alternative, offering a defined entry point through its ongoing ICO phase.
Unlike SHIB, which is weighed down by trillions of tokens and years of baggage, MAXI offers a fresh start with a clear roadmap. The project has already raised $4.6M capital in its early rounds, signaling strong interest from retail participants seeking high upside absent in mature assets.
For investors hedging against the risk of SHIB stagnation, Maxi Doge presents a speculative vehicle with a distinct risk-reward profile. It is the perfect play for those who missed the initial run-ups on the likes of DOGE, SHIB, and PEPE, all of which printed literal millionaires overnight.
MAXI is currently selling at $0.0002808, with just 48 hours remaining before the presale moves to its next price stage, which will mark the end of this early-bird offering.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with 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. A crypto native since 2017, Daniel leverages his background in on-chain analytics to author evidence-based reports and deep-dive guides. He holds certifications from The Blockchain Council, and is dedicated to providing “information gain” that cuts through market hype to find real-world blockchain utility.
