On Wednesday, the Shiba Inu ecosystem witnessed a significant jolt: the SHIB burn rate exploded by a staggering 1,500%, with over 34 million tokens removed from circulation within 24 hours. The crypto community is once again buzzing — could this massive burn spark a long-awaited price rebound after months of decline?
🔹 SHIB Down Over 50% Since the Start of the Year
Despite the sharp rise in burns, Shiba Inu has seen its value drop by more than 50% year-to-date, plunging from around $0.00002 in January to the current $0.00001. While the broader market remains turbulent, this signals that SHIB has room to rally — if conditions align.
🔹 34 Million Burned in a Day, 1,500% Spike — But Is It Enough?
According to Shibburn, the official burn tracker, 34.21 million SHIB tokens were destroyed in just 24 hours, pushing the daily burn rate up by 1,538%. The address 0x541f60e5576 was responsible for the lion’s share, burning over 17 million tokens in a single event.
Economically speaking, a shrinking supply should — under normal conditions — boost prices. This principle has many bulls hopeful that Shiba Inu might finally be gearing up for a reversal.
🔹 410 Trillion SHIB Burned So Far — 584 Trillion Still Circulating
So far, more than 410.73 trillion tokens have been permanently removed from circulation, with 584.36 trillion still remaining. The burn mechanics remain a core part of Shiba Inu’s long-term strategy and ecosystem.
🔹 So Why Isn’t the Price Responding?
Despite the surge in burns, SHIB has fallen more than 5% in the past 24 hours, trading around $0.00001093. From its recent high of $0.00001143, the drop has left many investors scratching their heads.
Weekly and monthly price charts reveal similar trends, with SHIB down 10% in the last 7 days and 12% over the past month. Much of this broader weakness can be linked to macro pressures, especially after Donald Trump’s announcement of 104% tariffs on Chinese imports, which spooked risk assets across the board.
🔹 Bullish Outlook: +550% Potential? One Analyst Thinks So
Despite the downturn, crypto analyst Javon Marks maintains a bullish stance. He reiterated that SHIB still holds the potential to rally up to 550%, with a target price of $0.000081 still in play — provided the market stabilizes and demand returns.
🧠 Final Thoughts:
SHIB remains one of the most talked-about meme coins. And while its burn rate is heating up and community support is strong, a real recovery depends on much more — especially global markets, investor sentiment, and overall liquidity.
Burning tokens alone isn’t a silver bullet. But it’s a powerful signal that Shiba Inu isn’t going anywhere — and that when the market turns, SHIB could be ready to lead the charge.
🦴 Are you still watching SHIB? Do you believe it can reclaim its highs — or is the glory gone?
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