Shiba Inu has recorded a burn rate increase by 3,904.47%, leading to the incineration of almost 30 million SHIB.
By Godfrey Benjamin
Editor Julia Sakovich
Updated
3 mins read
Canine-themed memecoin Shiba Inu SHIB $0.000008 24h volatility: 6.6% Market cap: $4.62 B Vol. 24h: $148.17 M has seen its token burn rate skyrocket by 3,904.47% over the last 24 hours. According to Shibburn, the dedicated burn tracker for the digital asset, this massive burn rate is equivalent to the permanent disappearance of a total of 29,998,516 SHIB. Analysts and market watchers expect this momentum to trigger an uptick for SHIB price.
Within the last 24 hours, Shiba Inu has experienced a 6% decline in market value, according to data from CoinMarketCap.
As a result, the memecoin is currently trading at $0.000007859, an unexpected price level after the weekend crash. A supply shock is often perceived as a mechanism that pumps the token price, following the principle of supply and demand.
Reduced supply with increased demand should translate into upscale prices, but not in the case of SHIB. Its latest 3,904.47% surge in burn rate cleared out almost 30 million Shiba Inu.
Also, it increased the total number of burnt SHIB from the initial supply to 410,754,214,607,594. Consequently, the ecosystem has 585,407,401,755,234 SHIB in circulation, while another 3,838,383,637,171 SHIB remains staked.
A week ago, market analysts saw potential for the memecoin to hit $0.00000870 after stabilizing above the $0.00000810 zone. Insights gathered from TKResearch Trading showed that whales were controlling SHIB’s exchange liquidity. Exchanges recorded a net outflow of 80 trillion SHIB, with exchange balances declining from 370.3 trillion to 290.3 trillion.
These analysts are still anticipating that an incoming price increase clears the path to the 200-day EMA at $0.00001054.
The reason for Shiba Inu’s failure to move in the direction of its burn rate is not yet known, but investors have taken a liking to Maxi Doge (MAXI), another canine-themed crypto asset.
By all means, this token is gaining traction and enjoying the limelight, and has successfully entered the league of the best crypto presales of 2025. Investors have seen this new project gather positive momentum, which has now caused it to grow significantly in such a short time.
So far, its ongoing project presale has raised a total of $4,498,836, underscoring its strong traction. This is an indication that investors perceive its long-term potential and are willing to invest their funds.
Current Presale Stats:
Current price: $0.000279
Amount raised so far: $4.49 million
Ticker: MAXI
Purchases can be completed using credit or debit cards, as well as cryptocurrency. Read how to buy Maxi Doge in our guide.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
