Shiba Inu (SHIB) is making noise again, and not just because its price is down. The meme coin saw a spectacular surge in burn activity over the past day, alongside some genuine signs that its ecosystem is actually being used for something.

Burn Baby Burn

According to Shibburn data, the burn rate exploded by 23,864.4% over the past 24 hours as 16.7 million SHIB tokens were permanently removed from circulation. The bulk of that came from a single transaction about an hour ago that torched 14.4 million tokens in one go.

Token burns reduce supply, which in theory should support prices if demand holds steady. Whether that actually happens is another story, especially when the broader meme coin market is looking rough.

Network Shows Signs of Life

Beyond the burns, Shibarium—the layer-2 blockchain built for the Shiba Inu ecosystem—showed a meaningful uptick in activity. Daily transactions climbed from 1,850 to 2,720 in just one day, while new contract deployments jumped from 4 to 16.

That's not massive volume by any stretch, but the direction matters. More transactions and contract deployments suggest developers are actually building on the network, which is what any blockchain ecosystem needs to stay relevant long-term.

Trading Setup Emerges

Full-time trader Timmi Arno noted that SHIB has broken down from its recent sideways range and tapped into a major high-volume support zone. He sees a short-term long setup forming with potential upside around 15%, where he plans to take profits. A stronger continuation could happen if momentum picks up, though that's far from guaranteed in the current environment.

New Spending Card Launches

On the product front, Shiba Inu just unveiled its custom Bitget Wallet SHIB Card, which lets users spend crypto directly. To drum up interest, the team is running a promotional period with some decent incentives:

• Zero fees on spending and card activation from November 19 through 26
• Additional rewards for early adopters

This puts Shiba Inu in the same arena as other major crypto ecosystems offering branded payment cards, including XRP through Gemini, Cardano via Wirex, and Solana also through Gemini. Whether these cards gain meaningful adoption remains to be seen, but at least the infrastructure is there.