Shiba Inu Burn Rate Soars 790% in 24 Hours as SHIB Activity Accelerifies
Shiba Inu (SHIB) captured significant market attention after its burn rate skyrocketed 790% within 24 hours, resulting in the destruction of over 61.5 million SHIB tokens. The dramatic spike in token burns has renewed bullish sentiment across the SHIB community and the broader meme-coin market.
61.5 Million SHIB Burned, Boosting Token Scarcity
According to data from Shibburn, more than 61.5 million SHIB tokens were permanently removed from circulation in a single day. Burn events like this reduce the circulating supply, a mechanism that can help support or increase a token’s value over time.
Community leaders and project contributors highlighted the burn as another step toward long-term ecosystem sustainability. As stated by Ryoshi, founder of the Shiba Inu project:
“The burn rate surge is a testament to the community’s commitment to the SHIB ecosystem.”
Market Reaction: SHIB Price Climbs 3%
Following the burn acceleration, SHIB’s price rose roughly 3%, reflecting a modest but positive market response. Traders note that historical burn surges often precede short-term rallies, although SHIB remains prone to volatility.
Despite the attention on SHIB, the burn event had no immediate impact on major cryptocurrencies like Bitcoin or Ethereum. However, some analysts observed light speculative movement as investors monitored SHIB-related developments.
Shibarium Activity Strengthens With Rising Transactions
Shibarium, Shiba Inu’s Layer-2 scaling solution, also saw a substantial uptick in network activity. Daily transactions jumped from 1,850 to 2,720, signaling increased developer engagement and expanding ecosystem interest.
This growth suggests that development efforts around Shibarium are accelerating, reinforcing the platform’s role in SHIB’s broader long-term strategy.
Investor Outlook: Bullish Sentiment Builds Amid Increased Utility
The Shiba Inu community remains optimistic as mounting burn rates and rising on-chain activity hint at potential upside momentum. While institutional participation is still limited, retail investors continue to follow SHIB’s progression closely.
Regulatory conditions remain unchanged, but traders are monitoring for future policy updates that could influence SHIB’s classification or market treatment.
