Key Notes
- Shiba Inu burn rate skyrocketed amid sustained community push.
- A lone whale contributed over half of the SHIB tokens sent to inactive wallets.
- SHIB price is being suppressed on-chain as macroeconomic uncertainties affect market sentiment.
The Shiba Inu burn rate has jumped by 104,201%, with over 115 million SHIB
SHIB
$0.000012
24h volatility:
2.0%
Market cap:
$7.35 B
Vol. 24h:
$228.69 M
tokens removed from circulation in 24 hours. This increase in burn activity, along with a recent Shibarium transaction milestone, has sparked optimism within the Shiba Inu ecosystem.
However, despite the increase in the burn rate, SHIB’s price has not moved in tandem. The community is discussing whether the token burn will eventually lead to a price rally in the short term.
Shiba Inu Burn Rate Outlook
According to data from Shibburn, Shiba Inu’s burn rate increased tremendously, with the project removing 115,890,322 SHIB tokens from circulation. This burn rate has captured the attention of the crypto community.
Burning many tokens reduces the total supply, potentially increasing prices if demand matches up. Over the past week, the project has burnt 1,170,542,199 SHIB in total.
So far, 410.72 trillion SHIB have been burnt, leaving a maximum supply of 999.98 trillion SHIB. With 589,252,374,218,381 SHIB tokens in total supply, the current volume has led to mixed reactions among investors. While some view the burn as an important one, others believe it makes little difference considering the large supply.
HOURLY SHIB UPDATE$SHIB Price: $0.00001233 (1hr -0.64% ▼ | 24hr -3.13% ▼ )
Market Cap: $7,272,787,773 (-3.46% ▼)
Total Supply: 589,252,374,218,381TOKENS BURNT
Past 24Hrs: 115,890,322 (104201.39% ▲)
Past 7 Days: 1,170,542,199 (7.94% ▲)— Shibburn (@shibburn) April 2, 2025
Interestingly, the wallet address “0xc439514852e132c” was tagged as a key player in this increase, burning 92.64 million SHIB in one go. This particular burn transaction stands out, reinforcing the importance of community participation in achieving burning goals.
Should more solo SHIB burners emerge, proponents argue it may help the memecoin project achieve its goals faster.
Shibarium Reaches Milestone, SHIB Falls
Alongside the increase in the deflationary metric, Shiba Inu’s Layer 2 blockchain, Shibarium, continues to show positive progress. As reported by Coinspeaker, the Shibarium transaction count reached a major milestone, surpassing 1 billion in March.
Since its release to the public in August 2023, Shibarium adoption has gone up. This is because the platform grants users access to faster transactions, lower fees, and a growing utility ecosystem through tokens like TREAT, LEASH, and BONE.
In addition, as the platform expands, many experts believe that the volume of transactions on the Layer-2 blockchain solution will continue to rise. This adds to the speculation of possible positive price swings for SHIB.
It is important to add that despite the promising burns, SHIB’s price seems to be struggling as opposed to what people expected. CoinMarketCap data shows that SHIB price was trading at $0.00001233, down by 3.28% in the last 24 hours.
Market data shows that SHIB has dropped by 20% over the past week, leaving investors cautious. While others are optimistic that the burns will drive the price up, this has not yet played out. This is partly because of the bearish response to macroeconomic uncertainties around President Donald Trump’s reciprocal tariff day.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
