Shiba Inu Price Soars on Whale Accumulation, Elevated Burn Rate

Shiba Inu's price surged 5.31% in the last 5 hours, driven by a combination of whale accumulation, shrinking exchange supply, and burn rate narratives.

An on-chain analyst noted that a dormant whale purchased 50.25 billion SHIB on Binance after an 8-month pause, coinciding with five consecutive days of negative exchange netflows.

SHIB exchange reserves have dropped to approximately 86.1 trillion, approaching the psychologically important 100 trillion threshold.

The elevated burn rate, which has historically been used to market a slow, deflationary supply story, is attributed to a recent surge in SHIB burns, with over 5.3 million burned in 24 hours and a daily burn rate up nearly 92%.