$SHIB Inu's burn rate has jumped a staggering 869.74% over the past 24 hours, according to Shibburn data, with nearly 5.89 million SHIB tokens permanently #AltcoinSeasonLoading removed from circulation. #Shibalnu
This surge coincides with a massive uptick in trading activity: SHIB derivatives volume rose 25.34% to $586.29 million, while open interest climbed 13.5% to The spike in burn activity suggests growing community efforts to reduce SHIB’s circulating supply — now standing at 584.57 trillion tokens, out of a total supply of 589.25 trillion. Since its inception, Shiba Inu has burned over 410 trillion tokens, shrinking its initial 1 quadrillion supply by more than 40%.#AltcoinBreakout
In crypto, "burning" refers to permanently removing tokens from circulation by sending them to unrecoverable wallet addresses. This deflationary tactic is designed to boost scarcity, theoretically increasing the token’s value over time — especially in high-volume trading environments like SHIB’s current derivatives boom.#Write2Earn
Derivatives data further shows increasing bullish sentiment. On OKX, the long/short ratio has climbed to 2.27, signaling more traders are betting on price gains. At the same time, liquidations (“rekt” stats) show more short positions getting wiped out — with $467.84K in long positions liquidated over 24 hours, compared to $269.44K in shorts.
At the time of writing, SHIB is up