Altcoin News

SHIB News: Shiba Inu Community Burns 1.69 Bln Coins In April, What’s Next?

The Shiba Inu crypto community registered the incineration of a staggering 1.69 billion coins over the past month. SHIB price contrastingly slipped.
Published by
SHIB News: Shiba Inu Community Burns 1.69 Bln Coins In April, What’s Next?

Highlights

  • The Shiba Inu crypto community saw 1.69 billion coins burnt in April.
  • SHIB burn data stirs speculations as price trajectory dwindles.
  • SHIB price slips, although investors remain optimistic on the token's price trends ahead.

Shiba Inu, a meme coin that has been the talk of the crypto town lately, has piqued substantial interest among crypto market participants as its community recorded 1.69 billion coins burnt over the past month. This colossal amount of the dog-themed meme coin destructed birthed contrasting sentiments among investors as SHIB illustrated a waning price trajectory in April.

Crypto market participants speculate over the meme coin’s potential price action ahead, as the colossal amount of coins incinerated underscores a positive sentiment despite the meme coin’s bearish movement. The broader crypto market faced heightened turbulency post-BTC halving, amidst which SHIB, too, bore the brunt, falling bearishly in recent days.

Advertisement

Shiba Inu Sees Billions Of Coins Out Of Supply

According to the tracker Shibburn‘s data, 1.69 billion SHIB was noted to be burnt in April, with 204 transactions recorded in total. The majority of these tokens were sent to Contract Addresses, sparking a buzz within the Shiba crypto community.

However, the tracker clarified that this isn’t due to something big in the pipeline. “It’s just folks making mistakes, sending their tokens to the CA, and losing their investments as a result,” the tracker added in a post shared on X.

Although coming as a setback to the so-called ‘folks,’ who witnessed losses, this chronicle staged as an optimistic news for Shiba Inu. With the supply additionally taking the hit, the SHIB token gradually continues to kill its excessive supply in the market, in turn fueling optimism.

Conversely, the token traded considerably in the red recently, with crypto market enthusiasts speculating over the impact of SHIB burns on its price movements.

Also Read: Bitcoin (BTC) Price Relief Rally Likely As ‘Buy The Dip’ Calls Surge

Advertisement

SHIB Price Tumbles

As of writing, SHIB’s price slipped 7.81% in the past 24 hours and is currently trading at $0.00002205. The meme coin noted a monthly dip of 22.44%, further accompanied by a weekly fall of 18.91%.

It’s worth noting that Shiba Inu’s recent bearish movement primarily aligns with the broader market’s turbulent shifts post-halving. Nonetheless, with the Shiba crypto community constantly fostering efforts to boost SHIB tokenomics, a bullish path for the token potentially lies ahead.

The continuous burning of SHIB, coupled with a hard fork upgrade imminent on May 2nd, propels optimism on the token in the short term. In the interim, a post-halving rally is yet to kick in on the crypto horizon, adding hope to the token’s long-run price movements.

Also Read: Bitcoin ETF Outflows Surge to $161 Million Ahead of FOMC

Advertisement

Share
Coingapestaff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • News

Will Bitcoin Rally as JPMorgan Tips Fed To End QT at FOMC Meeting?

Bitcoin traders are turning their attention to this week’s Federal Open Market Committee (FOMC) meeting.…

October 26, 2025
  • News

White House Crypto Czar Backs Michael Selig as ‘Excellent Choice’ To Lead CFTC

White House crypto czar David Sacks has shown his support for Donald Trump's nomination of…

October 25, 2025
  • News

Ripple Explores New XRP Use Cases as Brad Garlinghouse Reaffirms Token’s ‘Central’ Role

Crypto firm Ripple has revealed that it is exploring new ways to use XRP within…

October 25, 2025
  • News

Kyrgyzstan Adds Binance Coin (BNB) to National Crypto Reserve, CZ Confirms

Kyrgyzstan has made a significant move in the adoption of digital finance. It has now…

October 25, 2025
  • News

Ripple-Backed Evernorth Grows XRP Treasury to $1B Ahead of Nasdaq Listing

Ripple-backed Evernorth's XRP treasury has grown to $1 billion just days after the company announced…

October 25, 2025
  • News

Trump Tariff Tensions Ease as U.S. and China Hold Positive Trade Talks Ahead of Oct 30 Summit

In fresh developments, the United States and China’s trade teams have commenced negotiations on the…

October 25, 2025