Shiba Inu (SHIB) just torched more than 8.8 million tokens in seven days, per Shibburn — a steady burn that tightens supply and can fuel the next bullish impulse as SHIB wrestles with a lingering downtrend. Burns are core to SHIB’s deflationary design, funded by fees from on-chain activity and aimed squarely at reining in the outsized supply.
Crypto Weekly Review: Bitcoin Near $81,600 as Markets Retreat
The cryptocurrency market strengthened earlier this week but came under sharp selling pressure on Thursday, erasing much of its previous gains. In the latest market snapshot, Bitcoin (BTC) is trading near 81600.00 (+0.9%), Ethereum (ETH) at 2400.00 (+2.1%), Tether (USDT) at 0.9991 (–0.01%), BNB at 744.00 (+5.1%) and XRP at 1.3250 (+4.8%). Total cryptocurrency market capitalization has declined to approximately $2.73 trillion, while Bitcoin dominance has increased to 60.0%. From October 19 to 22, US spot Bitcoin ETFs recorded net inflows of $439.1 million, while Ethereum ETFs saw outflows of $225.1 million. The market remains volatile despite the recovery attempt discussed in our previous crypto weekly review.