- Shiba Inu burns soar 10,000%, but price keeps falling.
- Despite burns, Shiba Inu’s value drops—what’s next for SHIB?
- Shiba Inu’s massive burn rate fails to boost token price.
Shiba Inu has taken the spotlight with a massive surge in its burn rate, with over 7 million SHIB tokens burned in the last 24 hours alone. This sharp rise in token burns marks a jaw-dropping 10,021.65% increase in the daily burn rate, sparking excitement within the Shiba Inu community. However, despite these efforts to reduce the coin’s total supply, Shiba Inu’s price continues to face a downward trend.
In the past seven days, a total of 9,008,448 SHIB tokens have been burned, contributing to a 122% increase in the weekly burn rate. While this highlights a significant decrease in the circulating supply, it has yet to yield any substantial impact on Shiba Inu’s market value. The current price of SHIB stands at $0.0000118, a 9% decline over the past week, further disappointing investors.
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Despite Shiba Inu’s burn efforts, the token’s value has dropped steadily from a high of $0.00001484 on September 13 to a low of $0.0000115 earlier this week. While there was a slight recovery, the cryptocurrency remains down by 3.36% for the month of September. This price decline has raised questions about whether the ongoing burns are having the desired effect on the coin’s price.
Could Shiba Inu’s Burn Efforts Spark a Recovery in Q4?
The focus now turns to the possibility of a price rebound, with October historically being a strong month for cryptocurrencies. The so-called “Uptober” trend suggests that Shiba Inu could see a recovery in the coming weeks. Investors are looking to the Federal Reserve’s potential interest rate cut, which could provide the momentum needed for a crypto rally.
As Shiba Inu continues its burn strategy, it remains to be seen whether this will be enough to reverse its price decline. With Q4 fast approaching, many are hopeful that the token will replicate previous years’ patterns, which saw a last-minute surge in market value. Time will tell if Shiba Inu can regain its momentum and make a comeback as we enter the final quarter of 2025.
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