• Shiba Inu burn rate spiked 106,000%, signaling renewed community engagement.

  • Over 15 million SHIB were burned in 24 hours by large wallet holders.

  • Despite high burns, SHIB price dropped 5.87%, casting doubt on short-term breakout.

A wildfire is spreading in the Shiba Inu ecosystem. The token burn rate just exploded, rising over 106,000% in a single day. That’s no typo. Millions of SHIB vanished into digital ash within 24 hours. But here’s the twist—while the burn raged, the token’s price dropped. This odd contrast has the crypto world holding its breath. Could this aggressive burn spark a breakout? Or is it just smoke without fire?

https://twitter.com/shibburn/status/1923695031828754473?t=MqEgiY-XhlbBmuVjvluanw&s=19 SHIB Burn Rate Spikes as Holders Turn Up the Heat

After days of silence, SHIB holders launched a coordinated assault on the token’s supply. The Shibburn tracker reported over 15.3 million SHIB destroyed in just 24 hours. That figure dwarfed previous burns. A single wallet torched 15 million SHIB in one go. Another holder executed four burns in two days, wiping out 25 million tokens. This wave of activity sent the burn rate flying by 106,040%.

Many believe these actions come from die-hard believers aiming to pump value by shrinking supply. The effort shows commitment, but the price hasn’t followed. SHIB still trades below expectations. At $0.00001425, the token slipped nearly 6% in 24 hours. Its market cap also dipped to $8.38 billion. Yet trading volume stood tall at $210.74 million, proving the community hasn’t lost interest.

Price Holds Back, But Fundamentals Stay Strong

The Shiba Inu network remains highly active. Over 4.79 trillion SHIB stay locked in xSHIB, signaling long-term faith. The total supply remains massive, but burns chip away slowly at inflation. Despite the fiery burn, the price didn’t rise. This disconnection between burn momentum and price movement frustrates many SHIB fans. Still, the fundamentals paint a hopeful picture.

The Shiba Inu ecosystem keeps evolving. A new boost came from the launch of the Shibarium DappStore. The platform helps users access verified decentralized apps. Following that, SHIB jumped 9%, proving catalysts still work. Over 410.7 trillion tokens have now been burned. That sounds colossal, but more work remains. The circulating supply hovers around 584.4 trillion.

Each burn adds pressure, like water wearing down stone. Many community members believe this is only the beginning. They continue pushing for bigger burns and wider adoption. Their energy fuels SHIB’s story, even during downturns. If this burn trend continues, SHIB could finally catch fire in the charts. The market watches with bated breath, wondering if this blaze leads to a breakout.