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Shiba Inu Token Burn Surges 2000% Despite Price Drop

Coin WorldTuesday, Apr 15, 2025 5:33 am ET
1min read

Shiba Inu, a popular meme-based cryptocurrency, experienced a significant surge in token burn activity on April 15, with over 20 million SHIB tokens permanently removed from circulation. This burn event caused the daily burn rate to increase by more than 2000%, according to data from the Shibburn tracking platform. The tokens were sent to a wallet address that is no longer accessible, further reducing the total supply of SHIB.

Despite the substantial burn, the total circulating supply of SHIB remains large, sitting at roughly 584.37 trillion tokens. While the burn rate was high, the reduction made only a small dent in the overall supply numbers. This has led some traders to question whether these burns are sufficient to influence the price in a meaningful way.

At the time of reporting, SHIB was trading at $0.00001197, showing a daily drop of nearly 2.7%. Throughout the day, the token had risen to a peak of $0.00001239 before sliding back to a low of $0.00001182. However, over the past week, the coin has managed to gain close to 4%. With a market capitalization above $7 billion, Shiba Inu remains one of the most actively traded meme-based cryptocurrencies. The price has not risen significantly even in the aftermath of the recent burn event. Market watchers are closely monitoring the $0.00001238 market level as a possible stop point for bullish activity.

Activity among SHIB holders has dropped considerably over the last two months. In mid-February, over 13,000 unique wallet addresses were transacting with SHIB on a daily basis. That figure has now dropped to below 3,000, marking a steep 78% decline in active users. The fall in daily wallet activity may indicate that fewer people are interacting with the token, whether through trading, transfers, or other on-chain activity. Lower engagement could mean reduced interest from retail users and may explain why the price has stayed flat even during periods of high token burning.

Within the SHIB community, there is still some anticipation of a possible price movement. A post by a well-followed community member, SHIB Knight, mentioned that a “pump wave” could be on the horizon. However, no clear timing or additional details have been provided to support this claim. At the same time, not everyone in the market is convinced. A trader posting under the name “wallstreetbets” noted that despite burn efforts, the overall supply still appears unchanged. As a result, market sentiment remains mixed, with some users waiting for confirmation of stronger price signals before making moves.

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Gurkaz_
04/15
2000% surge in burn rate, but price yawns
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Mj_venturecapitals
04/15
@Gurkaz_ True, price ain't moving.
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twiggs462
04/15
Holding SHIB long-term, not betting on quick gains
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worldforgotme
04/15
@twiggs462 How long you planning to hold SHIB? Curious if you got a target in mind.
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aiolyfe
04/15
Burn events cool, but with supply this huge, feels like a drop in the bucket. 🚀 Still holding long-term, gotta ride the waves.
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vdeventa
04/15
Burned SHIB tokens ain't moving the needle much
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Accomplished-Back640
04/15
Knight's "pump wave" talk got me intrigued, but without a plan, just dust in the wind. 🤔
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donutloop
04/15
Market cap over $7B and still no significant price move? Something's off, maybe sentiment is shifting slowly.
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rbrar33
04/15
Gotta love the SHIB community's eternal optimism 😂
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throwaway0203949
04/15
SHIB burning action is lit, but price ain't moving. Maybe more burns or other factors will kick in soon. 🤔
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vannucker
04/15
Burn events cool, but with supply this massive, feels like a drop in the bucket. Gotta look at other factors for price action.
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Intelligent-Snow-930
04/15
Holding some SHIB just in case it goes moon. Not betting the farm, but diversifying my crypto play.
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Woleva30
04/15
With activity dropping off, feels like SHIB is losing steam. Are we seeing a shift to other meme coins?
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paperboiko
04/15
$7B market cap and still no moon 🤑
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CrimsonBrit
04/15
2000% surge in burns sounds epic, but let's see if it pumps the price or just another dead cat bounce.
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Beetlejuice_hero
04/15
@CrimsonBrit Do you think it'll pump?
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r2002
04/15
SHIB token burn might spark some FOMO, but I'm waiting for more concrete signals before adding to my stack.
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smarglebloppitydo
04/15
@r2002 How long you been holding SHIB? Any specific target in mind?
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selftusi
04/15
Damn!!the Peak Seeker algorithm successfully identified both trough and apex inflection points in META equity's price action, while my execution latency resulted in material opportunity cost.
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420XezeX710
04/15
@selftusi How long were you holding META equity, and what's your plan moving forward?
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