Shiba Inu Burn Rate Jumps 33% Amid Market Fluctuations

Generated by AI AgentCoin World
Saturday, Mar 22, 2025 11:37 pm ET1min read
SHIB
--

Shiba Inu's burn rate has surged by 33% in the last 24 hours, following a period of stagnation. This increase comes after a noticeable dip in the number of SHIB burn transactions, raising questions about the impact of these burns on the meme coin's struggle to transition away from selling pressure. The latest burn activity saw a total of 18,684,231 SHIB permanently removed from circulation, with the most significant burn involving 16,035,545 tokens sent to a burn address.

Despite the recent spike, the current burn rate is still modest compared to past high-volume burn sessions. The subdued burn activity in recent days can be attributed to the overall crypto market sentiment, with the Shiba Inu price declining for most of the week. This sudden increase in the burn rate raises questions about whether it is a one-off spike or a sign of a more sustained trend.

The current burn rate, even with the 33% boost, is far too small to have a transformative effect on the token’s supply dynamics. Shiba Inu currently has a supply of over 500 trillion tokens, making these burn volumes insignificant in the grand scheme. As such, the Shiba Inu tokenomics will likely remain unchanged at the current rate without sustained and exponential increases in daily burns.

In terms of price action, the Shiba Inu price has been fluctuating within the $0.0000125 and $0.000013 range. Some analysts remain optimistic, pointing to a bullish ascending triangle forming on SHIB’s chart. This outlook suggests that the meme coin is ready to bounce off the lower trendline of this triangle and push to new highs, reacting to Shiba Inu’s recent double bounce on support at $0.0000125.

If Shiba Inu holds this level and successfully pushes through the resistance at $0.000013, momentum could begin to shift back in favor of the bulls. A healthy and continuous burn rate, while not a miracle solution, could contribute to this recovery by creating positive sentiment. At the time of writing, Shiba Inu is trading at $0.00001272, down by 1% in the past 24 hours.