- SHIB burn rate surged 1,431% in 24 hours, torching over 1 million tokens.
- Price stayed flat at $0.00001301, with trading volume down 20% to $221M.
- Analysts eye $0.0000150–$0.0000200 as next upside targets if SHIB breaks above key resistance.
Shiba Inu’s burn rate just went off the charts — literally. In the past 24 hours, over 1 million SHIB vanished into the void, with burn activity spiking a crazy 1,431%. For holders, this sounds like fuel for a pump, but so far the price hasn’t really reacted.
Burn Surge, Price Still Flat
According to Shibburn, a total of 1,070,011 SHIB got destroyed in a single day. Normally, when supply takes a hit like this, you’d expect some price pressure to the upside. Less supply, steady demand, you know the drill. But SHIB hasn’t caught that spark yet.
Right now, the meme coin is sitting around $0.00001301, down about 2.4% on the day. Trading volume has also dropped nearly 20% to $221M, showing fewer traders are in the mix. Market cap sits at roughly $7.67B, which is nothing to sneeze at, but still — the burn hasn’t translated to momentum.
What’s Next for SHIB?
Analysts say if SHIB can close convincingly above resistance near $0.0000130, upside targets could stretch toward $0.0000150 and even $0.0000200. Without that breakout, though, it risks just drifting sideways while the hype fades.
So far, about 410 trillion SHIB have been burnt from the original supply, leaving roughly 584 trillion still in circulation. That’s a mountain of tokens, and unless the burn rates keep this insane pace, price pressure might remain sluggish.
For now, the burn fire is raging… but SHIB’s price? Not so much.
