SHIB Burn Rate Explodes 2,416% as Over 53M Tokens Vanish in 24 Hours

Shiba Inu (SHIB) has witnessed a dramatic increase in its token burn rate, with more than 53 million coins permanently removed from circulation within just 24 hours. According to data from Shibburn, the burn rate surged by a staggering 2,416.44 percent as several large transactions sent millions of tokens to dead wallets.

The most significant transfers included 23,068,929 SHIB, followed by two others carrying 14,178,952 and 11,264,137 SHIB. The three burned most of the total shares in that period, leading to a significant drop in the number of SHIB coins in circulation.

Such rapid burns are often used as a supply control mechanism to boost scarcity. This strategy immediately impacted SHIB’s price performance. Following the burn, SHIB increased in value by 4.8 percent, going from $0.00001408 to $0.00001476.

Major Burn Triggers Market Response and Price Recovery

Over the weekend, a much larger burn rate percentage was also recorded. The rate skyrocketed by over 22,662 percent on Saturday, though the number of tokens burned was lower at 37,959,900 SHIB. The latest spike, however, involved a larger volume of tokens despite a relatively lower rate increase.

This sudden acceleration in burn activity has intensified the focus on SHIB’s market behavior. Many traders believe these huge burns show that the coin could increase in value over time. Cutting the token supply could help SHIB attract greater attention if the demand keeps growing.

Although the development team has not released an official statement on this latest burn, the event has already made waves across the SHIB community. Market observers closely watch whether this burn momentum will continue or slow in the coming days.

After a million SHIB tokens were destroyed in just one day, investors became excited about the coin’s future value. Higher prices reflect traders’ expectations of increasing demand after the supply drops.

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