- Shiba Inu’s burn rate skyrocketed 13,120% in 24 hours, destroying over 9.7 million SHIB tokens.
- Despite the massive burn, SHIB’s price dipped 0.12%, showing little reaction to the supply cut.
- Meme coin Maxi Doge gained traction, raising nearly $2.9M in its presale as investors shift attention.
Shiba Inu just pulled off one of its biggest burn spikes in months. According to data from Shibburn, over 9.7 million SHIB tokens were destroyed in the last 24 hours—pushing the burn rate up a staggering 13,120%. While that sounds like a big win for SHIB holders, the price hasn’t exactly reacted the way many hoped.
Right now, SHIB is trading around $0.00001197, slipping by 0.12% on the day despite the massive burn frenzy. It’s one of those moments where supply reduction doesn’t instantly translate to price movement—at least, not yet. Still, traders are watching closely to see if the shrinking supply eventually creates enough pressure for a proper rebound.
Burn Rate Surge, But Price Lags Behind
In total, 9,778,166 SHIB tokens were wiped from circulation in a single day, bringing the total number of burned tokens to 410.75 trillion. That leaves around 584.75 trillion SHIB still in circulation—a mountain of supply, but a little smaller than it was yesterday.
Historically, spikes in SHIB’s burn rate often trigger bursts of optimism, as lower supply combined with steady demand can spark momentum. But this time, the price action seems muted. The market’s mood hasn’t fully caught up to the burn stats yet, which is something longtime holders have seen before.
SHIB Price Stalls Despite On-Chain Activity
The past week has been an odd one for Shiba Inu. While burns are soaring, the token’s price continues to hover sideways. SHIB’s 24-hour trading volume, however, shows some life—it’s up slightly to $179.45 million, a modest 0.66% gain. Market capitalization sits at $7.05 billion, down from earlier levels, which mirrors the broader cooling across major altcoins.
The timing comes as Shibarium, SHIB’s Layer-2 network, works to recover from its $4 million exploit. The team recently confirmed refund plans for affected users and is finalizing the relaunch of its Ethereum bridge. Despite these steps forward, SHIB’s short-term price still looks hesitant to move.
