Shiba Inu Price Surges 17% Weekly as SHIB Burns Hit One-Year High

Shiba Inu price extended its recovery today, climbing nearly 4% over the past 24 hours and more than 17% on the week. The meme coin has emerged as one of the strongest performers in the sector after a combination of record token burns, rising derivatives activity, and an improving technical structure reignited bullish sentiment.

As buyers continue defending recent breakout levels, attention is now shifting toward whether SHIB can sustain enough momentum to trigger another leg higher.

SHIB Burns Reach One-Year High

One of the biggest catalysts behind SHIB’s latest rally is the sharp acceleration in token burns. According to Shibburn, nearly 2.98 billion SHIB were permanently removed from circulation over the past seven days, making it the largest weekly burn recorded in roughly one year. Most of the burn activity occurred between July 26 and July 27, when several large transactions significantly reduced circulating supply. One transaction alone destroyed more than 757 million SHIB, while ecosystem projects including Woofswap also contributed additional burns.

Although SHIB’s total supply remains substantial, sustained burn activity reinforces its long-term deflationary narrative and has historically strengthened investor sentiment during periods of bullish momentum.

Derivatives Data Points to Growing Bullish Participation

Derivatives data suggests traders are increasingly positioning for further upside. According to CoinGlass, SHIB futures trading volume surged 81.1% to $141.7 million during the past 24 hours, reflecting a sharp increase in speculative activity. Meanwhile, open interest slipped 3.2% to $46.4 million, indicating some leveraged traders locked in profits following the recent rally rather than opening aggressive bearish positions. The combination of rising trading volume and moderate leverage typically reflects healthier market participation, reducing the risk of an overheated rally while leaving room for fresh buying if momentum continues to build.

Moreover, the liquidation heatmap suggests SHIB could be approaching an important inflection point. A large concentration of short liquidation liquidity sits between $0.0000051 and $0.0000052. If buyers successfully push the price through this resistance zone, forced short liquidations could accelerate upside momentum toward the $0.0000055-$0.0000060 range.

On the downside, the largest cluster of long liquidations is positioned near $0.0000046-$0.0000047, making this area a critical support zone. As long as SHIB holds above recent breakout levels, the liquidation landscape continues to favor bullish volatility rather than a deeper correction.

Shiba Inu Price Analysis: Bulls Defend Breakout as $0.0000050 Becomes Key Pivot

Shiba Inu has undergone a meaningful shift in market structure. After spending months inside a persistent descending trend, the token finally broke above its falling resistance line before rallying sharply toward the $0.0000050 supply zone. The latest pullback appears to be a healthy retest rather than a bearish reversal, with buyers successfully defending previous breakout levels.

Trading volume has expanded significantly during the move, while the RSI remains above neutral territory, suggesting bullish momentum is still intact despite short-term consolidation. If SHIB decisively flips $0.0000050 into support, the next upside target sits near the 200-day EMA around $0.0000060, followed by the broader resistance zone around $0.0000070. Failure to hold above the breakout region, however, could trigger a short-term correction toward the $0.0000045-$0.0000046 support area before buyers attempt another advance.

Can SHIB Extend Its Weekly Rally?

Shiba Inu’s latest rally is being supported by more than price momentum alone. Record-breaking token burns, surging derivatives activity and an improving technical structure suggest market sentiment has shifted decisively in favor of buyers. While SHIB still faces strong resistance overhead, holding above the recent breakout zone would strengthen the case for another leg higher. If burn activity remains elevated and broader crypto sentiment stays supportive, SHIB could continue outperforming the meme coin sector in the near term.