Shiba Inu Burn Rate Jumps 1300% Sparking Recovery Hope, SHIB Price to Hit $0.000081?

Coingapestaff
February 27, 2025
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal 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.
Shiba Inu Burn Rate Jumps 1300% Sparking Recovery Hope, SHIB Price to Hit $0.000081?

Highlights

  • Shiba Inu burn rate sparks optimism despite the ongoing crypto market turmoil.
  • Roughly 30 million coins were removed from the circulating supply again.
  • SHIB price outperforms BTC & ETH, trading in the green amid broader volatility.

Shiba Inu’s burn rate nabbed significant investor attention in the midst of a broader market turmoil on Thursday. The latest burn metrics signaled that over 30 million tokens were sacked from the asset’s circulating supply, resulting in a 1300% uptick. Meanwhile, with a top crypto market analyst further highlighting the chances of a potential 450% pump in SHIB price amid the burn rate surge, market sentiments have shifted to bullish.

Advertisement
Advertisement

Shiba Inu Burn Rate Skyshots 1300%: What This Means?

As per data from the official tracker Shibburn on X, Shiba Inu burn rate spiked 1306% on February 27. This colossal upswing comes against the backdrop of 30.15 million tokens ditched from the crypto’s circulating supply in a day.

Shiba Inu burn rate
Source: Shibburn official site

For context, the meme coin’s burn mechanism focuses on sending tokens to a null address. This phenomenon makes their retrieval impossible, thereby killing the supply and bolstering tokenomics.

How Many Tokens Burned To Date?

As an upshot, market watchers reflect substantial optimism surrounding SHIB price prospects, given a whopping 410.744 trillion coins have burned to date. The circulating supply as of press time totaled 584.32 trillion tokens.

It’s also noteworthy that 257.65 million tokens were burned this month (February), per Shiba burn statistics. As a response, traders and investors reflect considerable bullishness surrounding the meme coin’s price despite the ongoing crypto market blues.

Shiba Inu burn this month
Source: Shiba Burn Tracker site
Advertisement
Advertisement

Can Shiba Inu Price Hit $0.000081?

As of press time, Shiba Inu’s value today witnessed a 3% jump and exchanged hands at $0.00001469. The coin hit an intraday bottom and peak of $0.00001377 and $0.0000147, respectively.

Intriguingly, the Shiba Inu burn rate surge appears to be aiding the meme coin in outperforming BTC and ETH amid broader market volatility, as also spotlighted by community member SHIB KNIGHT on X. While Bitcoin & Ethereum witnessed alarming dips amid Donald Trump’s new EU tariffs, the Ethereum-based meme token jumped.

SHIB
Source: SHIB KNIGHT, X

Further, renowned market analyst Javon Marks also took to X, citing bullish historical trends that indicate gains ahead. The analyst reveals that SHIB price continues to hold its breakout, which took place in late 2022/early 2023. “With this price breakout holding, the target for Shib continues to be at the $0.000081 point, which is currently over 450% away,” the analyst concluded. Overall, market watchers remain highly bullish surrounding the meme coin’s long term prospects, given the abovementioned market statistics.

meme coin analysis
Source: Javon Marks, X
Advertisement
coingape google news coingape google news
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.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal 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.

About Author
About Author
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.
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.