Shiba Inu (SHIB) Price: Token Increases by Over 8% as Burn Rate Soars 637%

TLDR

• SHIB increased by over 8%, reaching $0.00000615, and stayed above the key $0.000006 support level
• Reports indicated Trump delayed military action against Iran, triggering a relief rally across crypto markets
• The SHIB burn rate soared 637% in 24 hours, with more than 8 million tokens permanently taken out of circulation
• Trading volume rose 67%, and derivatives volume climbed 100% to $194.44 million
• U.S. regulators labeled SHIB a digital commodity, reducing compliance-related uncertainty

(SeaPRwire) –   On March 23, 2026, Shiba Inu saw a gain of over 8%, pushing its price to $0.00000615. The token remained above the $0.000006 support level throughout the trading session. The broader cryptocurrency market increased by 2.57%, reaching a total market capitalization of $2.42 trillion.

The primary driver behind this movement was easing geopolitical tensions. U.S. President Donald Trump was reported to have postponed planned military action against Iran, creating a five-day window for diplomatic talks. This reduced near-term conflict risk and sparked a relief rally across global markets.

Bitcoin rose by nearly 4% during the same period, staying above $70,000. This level is widely viewed as critical for maintaining broader crypto momentum.

Meme coins reacted sharply to the improved sentiment. The total market capitalization of the meme coin sector increased by 6% to $34.4 billion. Dogecoin, Pepe, and Shiba Inu all experienced renewed buying activity.

Burn Rate and Supply Data

The Shiba Inu burn rate surged by 637% within 24 hours. Data from Shibburn confirmed that over 8 million SHIB tokens were permanently removed from circulation during this period.

This accelerated burning supports the deflationary structure built into the token. Fewer tokens in circulation enhance perceived scarcity among holders.

Spot trading volume for SHIB climbed by 67% to 169.65 billion tokens. Derivatives trading volume rose by 100.32%, reaching approximately $194.44 million.

Open interest increased by 10.12% to $45.03 million. This suggests traders are actively establishing and maintaining leveraged positions.

Technical Indicators and Price Levels

The MACD histogram moved into positive territory, indicating growing upward momentum. The Chaikin Money Flow indicator also recorded a positive reading, confirming sustained capital inflows rather than short-term speculation.

Another OG memecoin on the brink to break out. $SHIB is also looking juicy here, with a potential 350% gain. pic.twitter.com/iiwwFXWAQN

— ray (@moonbag) March 19, 2026

If buyers keep the price above $0.000006, the next resistance targets are $0.0000065 and $0.0000070. Failing to hold that support level could lead the price to pull back toward $0.0000055.

From a regulatory perspective, U.S. authorities classified Shiba Inu as a digital commodity. This designation reduces compliance uncertainty that had previously affected several altcoins.

Fintech platform OnePay expanded its crypto trading program to include SHIB, potentially introducing the token to new retail participants.

As of the latest data, SHIB is trading at $0.00000611, with open interest at $45.03 million and derivatives volume at $194.44 million.