Shiba Inu News Today: Binance Hack And Burn Behind SHIB Move?
Shiba Inu news today carries a mix of worry and hope for the SHIB Army. The meme coin slipped again, caught between a massive hack on a major exchange and a sudden slowdown in token burns. Anyone who checks SHIB prices every morning is asking the same thing: has the dip run its course, or is there more pain ahead?
Key Takeaways
- SHIB sits at $0.000004679, down 0.4% today and 3.7% this week, with a $2.757 billion market cap.
- A $6.3 billion Binance hack triggered a 499 billion SHIB dump, yet the price absorbed the hit and bounced back between $0.00000466 and $0.00000472.
- Burn activity fell over 50% in a week, and DEX volume along with active addresses also slid through October, adding weight to the drop.
Shiba Inu News Today: Binance Hack, Burn and DEX Volume
At the time of writing, SHIB price trades at $0.000004679, down 0.4% in the last 24 hours. Over the week, the drop widens to 3.7%. The market cap now sits at $2.757 billion, while 24 hour trading volume stands at $34.086 million.
Source: CoinGecko Data
This Shiba Inu news today roundup breaks the fall into three parts: a hack on a major exchange, a sudden burn slowdown, and weaker on-chain activity. Each one feeds the other, and together they explain why sentiment has turned cautious even as the token tries to hold its ground.
Did The Binance Hack Trigger The SHIB Price Drop?
The biggest story shaking the market this week is the Binance hack. One of the largest crypto exchanges, was hacked for an estimated $6.3 billion, and the shock spread across major coins, Shiba Inu included.
Source: X Post
According to an official post from the Shiba Inu team on X, the hacker dumped 499 billion SHIB tokens on the open market. What stands out is that the price didn't collapse under the pressure. It absorbed the sell off and rebounded, trading between $0.00000466 and $0.00000472 on November's first day as the market waited for clearer direction.
That recovery is a small win, but it hasn't erased the unease. The SHIB Army is still watching closely, aware that a hack of this size can shake confidence even when the chart holds steady.
Why Did Shiba Inu Burn Rate Fall So Fast?
A second, quieter reason sits inside the burn numbers. Token burning removes SHIB from circulation for good, and a slowdown here tends to worry long term holders.
Source: Shibburn Data
According to Shibburn data, burn activity dropped over 50.49% in just a week, despite hitting a high of 12,105,923 tokens burned on October 28. That swing from a strong burn day to a sharp weekly slump has added to the nervous mood around Shiba Inu news today.
Here's where the total burn picture stands, based on Shibburn figures:
| Metric | Figure |
|---|---|
| Total SHIB Burned | 410,845,062,911,606 SHIB |
| USD Value Of Burned Tokens | $7,358,064,144 |
| Burn Transactions | 21,929 |
| Initial Supply | 1 Quadrillion SHIB |
| Share Burned | 41.08% |
| Share Remaining | 58.92% |
With over 58% of the original supply still in circulation, every slowdown in burning matters to a SHIB community that has long leaned on burns as a bullish signal.
Is Falling DEX Activity Adding To The Price Drop?
The third piece comes from DefiLlama data, and it points to cooling trader interest. In September, SHIB's DEX volume stood at $16.51 million, with a daily average of 4.57K active addresses. By October, DEX volume had fallen to $12.65 million, and daily active addresses slipped to 3.58K.
Source: DefiLlama Data
Fewer traders showing up and less volume moving through decentralized exchanges usually means softer demand, and that lines up neatly with the price slide seen this week.
What Next For Shiba Inu?
Not every signal is bearish. One event worth watching comes from Japan. Rakuten Wallet, a Japanese crypto exchange, posted on X that it will run a coin giveaway at an investment seminar in November.
This piece of Shiba Inu Japan news lands on November 3, a public holiday in Japan, and the community is treating it as a meaningful moment heading into the rest of the year. If the seminar draws strong turnout, it could lift community confidence and support a short term bounce in SHIB price. That said, a single regional event is unlikely to offset weaker burns and softer DEX activity on its own.
The coming days of Shiba Inu news today will show whether this spark is enough to shift momentum, or whether the token needs stronger on-chain numbers first.
Expert Opinion: Analysts tracking Shiba Inu closely note that the chart reflects a tug of war between hack driven panic and genuine on-chain softness. The fact that the Binance hack dump got absorbed without a deeper crash is being read as a sign of resilience. At the same time, falling burns and declining DEX activity confirm that trader participation has cooled. The Rakuten Wallet event in Japan is viewed as a sentiment booster rather than a guaranteed trend reversal, and price action over the next few sessions will matter more than any single headline.
In short, Shiba Inu news today paints a token caught between short term stress and a few hopeful sparks, with the next move likely to depend on whether burns and DEX activity pick back up.
YMYL Disclaimer: This content is for informational purposes only and should not be treated as financial or investment advice. Cryptocurrency prices are highly volatile, and past performance does not guarantee future results. Readers should do their own research and speak with a licensed financial advisor before making any investment decisions.
