- Shiba Inu’s burn rate rises 12%, could spark price surge.
- Over 3 million SHIB burned, community hopes for recovery.
- Meme coin market struggles, but Shiba Inu shows promise.
Shiba Inu (SHIB) has recently witnessed a significant surge in its burn rate, rising by 12.11% in the last 24 hours. This sharp increase has sparked new hope among the SHIB community, as the deflationary mechanism behind the token aims to reduce circulating supply and create potential price scarcity. As the burn rate accelerates, the focus now shifts to whether this uptick can reverse SHIB’s recent price struggles.
According to Shibburn data, over 3 million SHIB tokens were permanently removed from circulation due to the rise in the burn rate. This marks an encouraging turnaround after several weeks of negative burn rate trends, where tokens were either burned at a minimal rate or not at all. Despite this positive shift, SHIB’s price continues to face significant volatility. In the last 24 hours, it dropped by 3.22%, moving from a peak of $0.000006888 to a low of $0.000006436.
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However, the burn activity is seen as a stabilizing force, helping to prevent the token’s price from falling further. At the time of writing, SHIB is trading at $0.000006636, a price still down from its intraday peak but showing a 9% weekly increase.
Despite this, the meme coin’s trading volume has taken a hit, down 28.97% to $165.03 million. Market conditions remain tough as the broader meme coin market struggles with a more significant downturn, contributing to overall market weakness.
Will Shiba Inu’s Burn Rate Alone Be Enough for a Full Recovery?
The recent surge in SHIB’s burn rate has sparked optimism in the community, with many hoping that this deflationary strategy could play a role in reversing the price decline. However, the broader market sentiment remains a challenge. The meme coin sector, in particular, has seen a sharp pullback in market capitalization, dropping more than 30% as investors shift their focus toward perceived safer assets.
While Shiba Inu’s burn rate increase has given the token some temporary relief, further progress depends on a broader resurgence in market participation. In particular, a recovery in trading volume and price stability is essential for sustaining upward momentum. The burn rate may have contributed to a small price boost, but only time will tell if it is enough to drive a full recovery for SHIB in the face of ongoing market headwinds.
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