Altcoin News

Shiba Inu Burn Rate Jumps 1400% As 61 Mln SHIB Destroyed

Shiba Inu burn surges 1400%, incinerating 61 Mln SHIB in 24 hours, fueling investor confidence with a 3% price jump.
Published by
Shiba Inu Burn Rate Jumps 1400% As 61 Mln SHIB Destroyed

The SHIB crypto, a widely recognized meme coin, has recently surged in popularity due to a remarkable increase of over 1400% in the Shiba Inu burn rate. In just 24 hours, investors witnessed the erasure of over 61 million SHIB tokens, signaling a fervent burning spree for the meme coin.

Meanwhile, the Shiba Inu community is buzzing with excitement as the burn rate surge coincides with a 3% increase in the Shiba Inu price, reflecting a growing confidence among investors.

Advertisement

Shiba Inu Burn Rate Soars As Millions Of SHIB Destroyed

In the past 24 hours, the Shiba Inu burn rate hit a record-breaking 1411.75%, culminating in the obliteration of 61.41 million SHIB tokens. This notable surge in the burn rate, as reported by Shibburn, has sparked curiosity among the Shiba Inu community as well as the crypto market enthusiasts.

Meanwhile, the burning frenzy is exemplified by the highest burns, including 27.21 million SHIB from wallet address 0x85a….4bcc7, 21.78 million SHIB from the same wallet address, and an additional 10 million SHIB from wallet address 0x439….eb4b0.

Notably, this surge in burning activity comes amidst a broader trend where Shiba Inu has gained significant traction in recent weeks. The burning spree has led to the elimination of 410.70 trillion SHIB from the maximum total supply of 999.98 trillion. As of now, the circulating supply stands at 581.30 trillion SHIB, showcasing the remarkable impact of the burning initiatives on the overall token supply.

Shiba Inu (SHIB) Price Chart

Also Read: 5 Reasons Why Solana (SOL) Price Skyrocketing Daily

Advertisement

Investors Regains Confidence As Price Soars

The surge in the Shiba Inu burn rate is complemented by a 3% increase in the Shiba Inu price, suggesting that investors are growing more confident in the meme coin. The burning of tokens is often seen as a strategy to create scarcity, potentially driving up the value of the remaining tokens. This dual movement—increased burn rate and a positive price trend—reflects a dynamic and engaging period for Shiba Inu enthusiasts.

As the burning spree continues, investors eagerly watch to see how this surge in confidence and burning activities will impact the long-term trajectory of Shiba Inu in the highly competitive cryptocurrency market.

Meanwhile, as of writing, the Shiba Inu price was up 3.20% and traded at $0.000009318. Its trading volume over the last 24 hours also soared 47% to $127.22 million at the same time. Notably, the crypto has touched a high of $0.000009432 and a low of $0.000008947 in the last 24 hours.

Also Read: Ripple Offloads 46 Mln XRP Tokens Amid Price Rebound, Nosedive Ahead?

Advertisement

Share
Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam's expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news. Rupam's career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.

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

  • 24/7 Cryptocurrency News

Aster Token Crashes 10% On DEX Integrity Issues Ahead of Airdrop, What’s Happening?

BNB-based decentralized exchange (DEX) Aster has come into the limelight recently, this time facing integrity…

October 6, 2025
  • Bitcoin News

Spot Bitcoin ETFs Record 2nd Best Weekly Inflows Ever, Bloomberg Analysts Bullish

Spot Bitcoin ETFs saw nearly $3.3 billion in net inflows last week, the 2nd largest…

October 6, 2025
  • 24/7 Cryptocurrency News

Michael Saylor Says “No New Orange Dots” Pausing Bitcoin Buys as Holdings Hit Record $79B

Michael Saylor hinted that Strategy would not be making its routine Bitcoin purchase this week.…

October 5, 2025
  • 24/7 Cryptocurrency News

Experts Turn Bullish on Pudgy Penguins as PENGU Leads Meme Coin Buys on Solana

Crypto experts have begun to make bullish projections for Pudgy Penguins’ native token, PENGU. This…

October 5, 2025
  • 24/7 Cryptocurrency News

ASTER to Launch Phase 2 Airdrop on October 10 as Open Interest Tops $5B in Two Weeks

ASTER has announced that the roadmap for its second airdrop phase is set to begin…

October 5, 2025
  • 24/7 Cryptocurrency News

El Salvador’s Bitcoin Holdings Hit $475M Profit as BTC Becomes World’s 7th Largest Asset

El Salvador is now sitting on $482 million in unrealized gains in its Bitcoin holdings.…

October 5, 2025