Key Notes
- SHIB supply was crushed today after its burn rate spiked by 2,713%.
- With the latest incineration of 4,764,442 tokens, the total SHIB burn for the initial supply is 410,752,702,962,590.
- SHIB price increased by only 0.89% amid a stalled push to monthly high.
Shiba Inu
SHIB
$0.000010
24h volatility:
1.5%
Market cap:
$5.94 B
Vol. 24h:
$173.01 M
has seen its burn rate spike by 2,713% in the last 24 hours, per data from Shibburn, the dedicated burn tracker for the protocol.
This burn marks further supply shock for the dog-themed meme coin. It is expected to trigger a significant price burst, but SHIB has only recorded a 0.89% rally in 24 hours.
SHIB Price Reacts Slightly to Burn Rate Spike
According to Shibburn, Shiba Inu’s burn rate went up by 2,713% leading to the permanent removal of 4,764,442 tokens in 24 hours. This has now brought the sum of SHIB destroyed in the last 7 days to a total of 50,786,799.
So far, the SHIB ecosystem has seen 410,752,702,962,590 tokens incinerated from its initial supply.
The protocol still has up to 585,222,978,676,647 coins in circulation per Shibburn data. SHIB is currently trading at $0.00001000, corresponding with a 0.89% increase over the last 24 hours.
This suggests that the latest burn has not had much of an effect on SHIB, based on the economic principle of supply and demand.
Ordinarily, the presence of a shrinking supply combined with steady or rising demand should drive the value of an asset higher. Crypto market enthusiasts are still hoping that Shiba Inu will lose a few of its zeros and hit a new high. Certain events within its ecosystem are expected to act as catalysts and propel the price action of this digital asset.
For instance, its Layer-2 scaling solution Shibarium is working on refunding $4 million to exploit victims and restarting its Ethereum
ETH
$3 877
24h volatility:
1.5%
Market cap:
$467.90 B
Vol. 24h:
$33.92 B
bridge. Ultimately, these events could trigger a new high for SHIB.
Snorter Bot Presale Raises $5.48 Million, Investors Bet on Its Potential
As SHIB pushes to gain more traction in the crypto market, Snorter Bot is rising right beside it. This new initiative is built to deliver high rewards for bold investors, and many traders are already betting on its long-term potential and smart positioning in the space.
Inspired by the spirit of an adventurous aardvark, Snorter Bot is quickly becoming a top crypto presale of 2025. It’s built to help investors make faster, more confident trading decisions while adding a fun, creative twist to the world of crypto innovation.
Current Presale Stats of Snorter Bot
Current price: $0.1083
Amount raised so far: $5.48 million
Ticker: SNORT
Purchases can be completed using credit or debit cards, as well as cryptocurrency. Don’t forget to check out the official site to stay updated with the Snorter Bot launch date.
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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.
Godfrey Benjamin on X
Source: https://www.coinspeaker.com/shiba-inu-burn-rate-2713-percent-shib-price/
