Shiba Inu burn rate recently skyrocketed by 217%, leading to the destruction of 4,971,698 SHIB.
By Godfrey Benjamin
Editor Julia Sakovich
Updated
2 mins read
Shibburn, the dedicated burn tracker for the Shiba Inu SHIB $0.000009 24h volatility: 2.4% Market cap: $5.16 B Vol. 24h: $239.20 M ecosystem, revealed that the burn rate has increased by 217% over the last 24 hours. As a result, 4,971,698 SHIB have been permanently removed from circulation, adding to the already large number of burnt tokens. Surprisingly, the SHIB price has shown no positive reaction to this burn action.
As of Dec. 4, the SHIB burn rate is one of the few metrics in the Shiba Inu ecosystem that has flipped positive.
Altogether, the second-largest meme coin has recorded the burning of 410,753,835,277,822 SHIB from the initial supply. Notably, there are still 585,267,763,742,129 tokens left in circulation.
With this magnitude of supply crunch, the expectation is that the SHIB price will jump, following the economic principle of supply, demand, and price. For perspective, it states that a shrink in supply combined with steady or rising demand would drive the value of an asset higher. Currently, this is not the case with SHIB price performance.
According to CoinMarketCap data, SHIB has a market value of $0.000008783 at press time, corresponding with a 1.75% dip within the last 24 hours.
It is not yet clear if this is a long-term issue, but it is likely to be attributed to the fluctuation in market sentiment. As Bitcoin makes a recovery move, it seems to have dragged altcoins backward.
Meanwhile, SHIB’s 24-hour trading volume looks good after soaring by 40.8% $233 million.
Crypto enthusiasts are hopeful that the SHIB price will improve very soon, but until then, Maxi Doge (MAXI) is gaining traction and enjoying the limelight.
This digital asset project has grown in such a short time. So far, its ongoing project presale has successfully raised a total of $4,271,025.47. This is an indication that investors perceive its long-term potential and are willing to invest their funds.
With this positive momentum, it is now ranked among the best crypto presales of 2025.
The official presale website indicates that the token price is set to be adjusted in about 2 days and 14 hours. Purchases can be completed using credit or debit cards, as well as cryptocurrency.
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.
