Key Notes
- Shibburn shows that the SHIB burn rate increased by 157,726%.
- This led to the burning of 2,481,036 SHIB in 24 hours, and now the total supply of the memecoin is 589,247,732,073,096 tokens.
- Shiba Inu price has increased to $0.00001238, following a 1.5% increase over the last 24 hours.
Canine-themed memecoin Shiba Inu has seen its burn rate spike by 157,726%, leading to the incineration of 2,481,036 SHIB in 24 hours. In light of this increase, the price of the crypto asset has recorded a mild rally. This is significant, judging by the recent selloff in the broader crypto market.
SHIB Price May Sustain Rally as Burn Increase
According to Shibburn, the dedicated Shiba Inu burn tracker, the memecoin recorded a notable drop in its circulating supply. The burn rate went as high as 157,726%, causing the ecosystem to lose 2,481,036 SHIB within 24 hours. The Shiba Inu ecosystem is now left with 589,247,732,073,096 in total supply.
Ordinarily, when such a massive burn is recorded in the crypto industry, the digital asset concerned usually sees a spike in its market value. This follows the law of demand, supply and price, which says that with reduced supply and increased demand comes a price increase. As it stands, the SHIB price is in line with this economic principle.
CoinMarketCap data shows that SHIB is currently trading at $0.00001238, corresponding with a 1.5% spike within the last 24 hours. Additionally, its market capitalization has increased to $7.26 billion during the same period. SHIB’s 24-hour trading volume has also recorded a 14.61% increase and is now pegged at $248.56 billion.
This current outlook of SHIB is quite outstanding considering that the dog-themed memecoin has been one of the underperformers in the market.
Notably, the reduction in SHIB supply could indirectly reduce selling pressure. Fortunately, this could create favorable conditions for bulls to sustain the price rally. If this is the case, the price of SHIB may record a further increase in a few weeks.
Snorter Bot: Here’s Why Its Presale is Worth Considering
With the SHIB price increase, Snorter Bot is making waves in the market, gaining relevance and traction amongst strong risk-takers. Considered to be a high-growth potential project in the long term, the Snorter Bot has its presale ongoing. So far, the capital invested in this project has spiked to more than $3.4 million.
With its reputation, the qardvark-themed Snorter Bot now successfully ranks among the best crypto presales of 2025.
Its design allows investors to make easier trading decisions, and this has made it popular in the market. In other words, it contributes to helping traders easily navigate the cryptocurrency sector. Using its figurative snort, it scans for opportunities that can give investors maximum profit.
Current Presale Stats:
Current price: $0.1029
Amount raised so far: $3.56 million
The official presale website indicates that the token price is set to be adjusted within the next 2 days. Purchases can be completed using credit or debit cards, as well as cryptocurrency.
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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.
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Source: https://www.coinspeaker.com/shiba-inu-burn-rate-rockets-157726-amid-growing-price-selloff/
