Shiba Inu Burn Rate Surges 10,845% in One Day, Price Rises 3.66%

The Shiba Inu (SHIB) community has intensified its deflationary efforts, with the burn rate for the popular memecoin surging by over 10,800% within a single day. This dramatic increase has sparked renewed discussions about the token's price trajectory. According to data from Shibburn, a total of 9,551,523 SHIB tokens were sent to inactive wallets, effectively removing them from circulation. This represents a staggering 10,845% increase compared to the previous day, demonstrating the community's commitment to reducing SHIB's supply.

The burn mechanism of Shiba Inu is designed to create scarcity by systematically reducing the circulating supply, with the aim of driving demand higher. Currently, SHIB's total supply is around 589.24 trillion tokens, with approximately 584.55 trillion actively circulating. The rest of the tokens remain staked. While the volume of tokens burned may seem small relative to the enormous supply, these consistent burns are intended to have a long-term deflationary impact, potentially strengthening SHIB's value proposition in the competitive memecoin market.

Following the latest burn, SHIB's market price has seen a cautious uptick of 3.66%, reaching $0.00001186. This increase comes alongside an improvement in the token's Relative Strength Index (RSI), which has climbed out of oversold territory, signaling an early bullish shift. However, despite the surge in burn rate and positive technical signals, SHIB's 24-hour trading volume has decreased by over 21% to $83.93 million. This drop indicates that traders are exercising caution, waiting to see if the recent momentum can be sustained.

For SHIB to unlock further upside, it must break through key resistance levels at $0.00001210 and $0.00001250. A successful breakout above these barriers could pave the way for SHIB to reclaim $0.000013 in the near term. Some market observers believe that if the SHIB Army continues with consistent burns and trading activity picks up, these targets could become achievable. However, the rally remains fragile and will depend heavily on stronger buyer participation.

Amidst these developments, Lucie, Shiba Inu’s ecosystem marketing lead, addressed community concerns following the delisting of SHIB tokens from two centralized exchanges. Lucie urged the community not to succumb to fear, uncertainty, and doubt (FUD), attributing the delistings to manipulative exchange behavior rather than SHIB’s performance. She encouraged the SHIB Army to rely less on centralized exchanges and emphasized the team’s ongoing efforts to strengthen the ecosystem’s foundations.