- Shiba Inu’s burn rate skyrocketed 222% in 24 hours, destroying over 140 million SHIB tokens.
- Despite the burn, SHIB’s price fell 2.12% to around $0.00001043.
- Trading volume and market sentiment continue to weaken, with a $6.14B market cap.
The Shiba Inu community just witnessed another wild surge in its token burn rate — up a massive 222.84% in just 24 hours. According to Shibburn data, over 140 million SHIB tokens were permanently destroyed, cutting into the meme coin’s already enormous supply. But strangely, even with that massive burn, SHIB’s price has refused to move higher.
Millions of Tokens Gone, Price Still Flat
In the past day, roughly 140,391,783 SHIB tokens have been burned, pushing the total destroyed supply to a jaw-dropping 410.7 trillion. That leaves around 585 trillion tokens still circulating out of the original 999 trillion total supply. Usually, when supply goes down and demand holds steady, prices tend to rise — but SHIB isn’t playing by the usual rules right now.
Instead, the token’s value dropped by about 2.12%, landing near $0.00001043. It’s not the first time this has happened either; earlier spikes in burn activity, including a crazy 13,000% jump last week, barely moved the price. SHIB’s recent stagnation shows that burns alone might not be enough to lift sentiment unless the broader crypto market also turns bullish.
Market Slows, Sentiment Fades
With SHIB’s market cap sitting around $6.14 billion, the token now ranks as the 21st largest crypto by value. Its 24-hour trading volume fell 10.45% to about $183.6 million, signaling cooling activity among traders. Despite the burn frenzy, SHIB holders are waiting for a real catalyst — something beyond token destruction — to push prices higher again.
Still, optimism lingers. If Bitcoin and the wider market recover soon, SHIB could finally start to react to these consistent supply cuts. Until then, it’s a waiting game for the Shiba Inu army.
