Shiba Inu (SHIB) Price: Token Climbs Over 8% as Burn Rate Spikes 637%

TLDR

SHIB rose over 8% to $0.00000615, holding above the key $0.000006 support level Trump reportedly delayed military action against Iran, sparking a relief rally across crypto markets The SHIB burn rate surged 637% in 24 hours, with over 8 million tokens permanently removed Trading volume jumped 67%, and derivatives volume rose 100% to $194.44 million U.S. regulators classified SHIB as a digital commodity, reducing compliance uncertainty

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Shiba Inu posted a gain of over 8% on March 23, 2026, pushing the price to $0.00000615. The token held above the $0.000006 support level throughout the session. The broader crypto market rose 2.57%, reaching a total market cap of $2.42 trillion.

Shiba Inu (SHIB) Price

The main driver behind the move was easing geopolitical tension. U.S. President Donald Trump reportedly postponed planned military action against Iran, opening a five-day window for diplomatic talks. This reduced near-term conflict risk and triggered a relief rally across global markets.

Bitcoin rose nearly 4% during the same period, holding above $70,000. That level is widely seen as critical for keeping broader crypto momentum intact.

Meme coins responded sharply to the improved sentiment. The meme coin sector’s total market cap rose 6% to $34.4 billion. Dogecoin, Pepe, and Shiba Inu all saw renewed buying activity.

Burn Rate and Supply Data

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

Source: Shibburn

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

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

Source: Coinglass

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

Technical Indicators and Price Levels

The MACD histogram shifted into positive territory, pointing to building upward momentum. The Chaikin Money Flow indicator also registered 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 hold above $0.000006, the next resistance targets are $0.0000065 and $0.0000070. A failure to hold that support level could expose the price to a pullback toward $0.0000055.

On the regulatory side, U.S. authorities classified Shiba Inu as a digital commodity. The designation reduces compliance uncertainty that had previously weighed on several altcoins.

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

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

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