- Shiba Inu’s burn rate skyrockets 1,567%, surprising the crypto world.
- Over 1 million SHIB burned in just 24 hours major surge.
- Shiba Inu’s burn rate reversal hints at strong community commitment.
Shiba Inu (SHIB) has stunned the crypto community with an explosive surge in its burn rate, soaring by 1,567% in just 24 hours. According to Shibburn, over 1 million SHIB tokens were burned in this timeframe, compared to fewer than 200,000 tokens burned earlier in the week. The burn rate jump, totaling 1,157,800 SHIB tokens, marks an astonishing reversal after days of decline.
This unexpected increase follows a sharp downturn in the burn rate, with only 69,420 SHIB burned the day before, reflecting a 62.96% drop. This decline was likely linked to a broader market sell-off as investors reacted to macroeconomic concerns. Despite the price of SHIB dropping by 1.47% in the past 24 hours, the dramatic rise in the burn rate has caught the attention of traders and enthusiasts alike, hinting at a renewed sense of commitment within the Shiba Inu community.
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Why Did the Burn Rate Surge?
The exact cause of this surge remains unclear, but it suggests a strong resolve among Shiba Inu holders to reduce the circulating supply, a strategy many believe could help drive future value. Token burns are widely seen as a way to increase scarcity, which could positively affect SHIB’s price in the long term, despite the short-term price dips.
This spike in the burn rate comes amid a cryptocurrency market struggling with a prolonged sell-off that began in October. Traders are still uncertain about the future direction of the market, which has seen $19 billion in liquidations.
What’s Next for Shiba Inu?
While Shiba Inu’s price remains down by 2% over the past week, institutional interest in the coin continues to grow. Shiba Inu’s inclusion in T. Rowe Price’s $1.77 trillion crypto ETF signals that big players are beginning to take notice. This could bode well for the token’s long-term prospects, despite the market’s current bearish phase.
With only weeks left in the year, the Shiba Inu community is waiting eagerly for upcoming events, including Coinbase’s launch of perpetual-style futures for altcoins, including SHIB, on December 15. The anticipation surrounding these developments suggests that the Shiba Inu token could be in for a potential rally as 2026 approaches.
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