1 Million SHIB Burn: Will Shiba Inu's Price Bounce Back in November?

Dog coin Shiba Inu has seen a 1 million token burn at November's start, fueling hopes for price recovery in the month.

According to Shibburn, 1,069,637 $SHIB tokens were burned in the last 24 hours, but $SHIB's daily burn rate posted a surprising drop of 86.53%. A total of 61,170,467 $SHIB were burned in the last seven days, a 139.46% increase in weekly burn rate.

Shiba Inu ended its first red October in years, marking a nearly 16% drop. With October ending in losses in a generally positive Q4, the market is on the lookout for how Shiba Inu's price will fare in November.

Shiba Inu often sees positive performance in Q4, mirroring a broader trend in the crypto market.

Will price recover in November?

November is a mixed month for Shiba Inu in terms of price performance. In November 2021, Shiba Inu fell 29.61% as well as in November 2022, when it dropped by 24.9%.

In November 2023 something different happened, with Shiba Inu ending the month up 6.55%. In November 2024 as well, $SHIB rose 49.33%. Given this, November might be key for Shiba Inu's price action.

At the time of writing, $SHIB was trading at $0.00001 as price attempts to recover after October's sell-off. Resistance lies at $0.0000113 and $0.0000126, while support is in the $0.000009 range. Shiba Inu remains in consolidation and may continue to do so until its next major move.

In recent news, Lucie, a Shiba Inu team member, draws attention to the "Grayscale’s Market Byte Here Come the Altcoins" October 2025 report, which labels Shiba Inu ($SHIB) under the Consumer & Culture crypto sector in the FTSE Grayscale Crypto Sectors framework.

"$SHIB is recognized by Grayscale Investments and FTSE Russell as a leading project shaping community, culture, and entertainment in crypto," Lucie stated.