From $10 to $1 Million: Shiba Inu Burn Rate Explodes 38,000%, Sparking Bullish Hopes
If you had invested just $10 in Shiba Inu $SHIB on August 2, 2020, and cashed out at its all-time high on October 28, 2021, you’d be sitting on a life-changing $1 million profit. That’s a jaw-dropping 10,303,317.81% return a testament to SHIB’s explosive potential during its historic rally.
Now, the SHIB community is once again buzzing with optimism, thanks to an astonishing 38,299% surge in its burn rate recorded on May 1, 2025. According to data from Shibburn, a whopping 283.74 million SHIB tokens were incinerated in just 24 hours, with one wallet alone responsible for destroying 263.70 million SHIB.
This latest burn brings the total destroyed supply to new highs, reinforcing long-term bullish sentiment. By removing coins from circulation and sending them to a dead wallet, the Shiba Inu burn mechanism permanently reduces supply a key factor in driving potential price appreciation over time.
Currently, SHIB is trading around $0.000013, holding firm support at $0.000012. While the short-term price impact remains muted, the law of supply and demand suggests growing upside potential if these burns continue at such pace.
With the SHIB army backing consistent token burns and market conditions stabilizing, many in the crypto space are now wondering: Could another SHIB miracle be on the horizon?