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Shiba Inu Burns 110M SHIB on July 8, Price Drops 5% Amid Whale Selling

Price Volatility Token Events

2026-07-17 08:12:14

SHIB-0.96%

According to Robinhood wallet data, Shiba Inu recorded its largest single-day token burn in six months on July 8, 2026, with 110 million SHIB permanently removed from circulation. Weekly burns reached 152 million tokens, up 56% from the previous period. Despite the record burn activity, SHIB's price fell approximately 5% on the day, with monthly losses reaching around 9%. The decline was driven by large investors simultaneously transferring more than one trillion SHIB tokens to trading exchanges, a selling volume that far exceeded the positive impact of the burn. With approximately 585.6 trillion SHIB tokens remaining in circulation, supply reduction at this scale had minimal market effect.

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