- Shiba Inu’s burn rate exploded by 2,713%, destroying over 4.7 million SHIB in 24 hours.
- Despite the massive burn, SHIB’s price only rose 0.89%, showing limited short-term impact.
- Snorter Bot’s presale hit $5.48M, drawing investor interest as the next big meme project.
Shiba Inu just saw its burn rate explode by 2,713% in a single day, with over 4.7 million SHIB tokens sent to the dead wallet. It’s the kind of spike that usually sparks excitement across the meme coin community. But this time, the price didn’t exactly follow — SHIB only managed a modest 0.89% uptick. Traders are watching closely, wondering if this sudden burn surge might be the calm before the next breakout.
Massive Burn, Minimal Reaction
Data from Shibburn shows that 4,764,442 SHIB were permanently removed from circulation in 24 hours, bringing the total burned supply to a massive 410.75 trillion tokens. Over the past week, nearly 51 million tokens have gone up in smoke. Yet despite this wave of destruction, SHIB remains flat around $0.000010. There’s still a hefty 585 trillion tokens in circulation, so while burns are steady, the impact on price feels muted — for now at least.
Market Awaits a Catalyst
In theory, less supply should mean higher value. But crypto rarely plays by simple rules. SHIB’s movement has stalled even with aggressive burning, as traders wait for stronger catalysts. One possible trigger could be Shibarium’s next update. The Layer-2 solution is set to refund $4 million to exploit victims and restart its Ethereum bridge, which could help rebuild confidence and kick off the next leg up.
