Despite ongoing market uncertainty, the SHIB memecoin has drawn attention due to changes in on-chain data. The SHIB price has increased by 10.81% in the past seven days.
Increase in SHIB Burn Rate
According to Shibburn data, an anonymous wallet '0x55B' transferred 1 billion SHIB tokens to the burn address in a single transaction. Previously, this wallet burnt 1 billion SHIB in March 2025 and another billion in August 2024. The wallet still holds 1 billion SHIB tokens.
Rise in Shiba Inu Wallet Activity
Data from Arkham indicates a sharp spike in SHIB trading volume in recent hours. A large amount of SHIB tokens was transferred from Upbit to its hot wallet through medium-sized transactions. Upbit is among the largest holders of SHIB memecoins, holding over 47 trillion SHIB tokens.
Neutral SHIB Price Action
While the crypto community anticipates a potential dump, SHIB's price remains stable over the last day, trading at $0.00001368. SHIB is trading at a discount of 84.49% from its all-time high. If SHIB holds the $0.00001370 level, it may move upwards to $0.00001400.
SHIB continues to attract attention due to its on-chain activity and price changes. Future price movements depend on SHIB's ability to maintain current support and resistance levels.
