Shiba Inu’s Burn Rate Skyrockets 367%: Over 11.5 Million SHIB Incinerated in Deflationary Push

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Shiba Inu Records a Staggering 367% Burn Rate Surge, Over 11.5 Million SHIB Sent to Dead Wallets

The Shiba Inu cryptocurrency has experienced a remarkable 367% increase in its burn rate, with more than 11.5 million SHIB tokens permanently removed from circulation, according to the latest data from Shibburn. This significant burn was achieved through just two key transactions.

Community-Driven Burn Efforts and Supply Update

In the past 24 hours alone, a total of 11,696,177 SHIB tokens have been burned, intensifying the community’s efforts to reduce the token’s circulating supply. The first burn transaction eliminated 3,271,537 SHIB, while the second transaction, more than doubling the first, burned 8,424,639 SHIB.

As of now, Shiba Inu’s total supply is 589,268,792,658,296 SHIB, with a circulating supply of 583,543,594,573,618 SHIB. In addition, 5.7 trillion SHIB are currently staked, and a total of 410.7 trillion SHIB tokens have been burned to date.

SHIB Market Performance

  • Price: $0.00001889 (1-hour change: +0.14%, 24-hour change: +6.97%)
  • Market Cap: $11.1 billion (7.01% ▲)
  • Total Supply: 589,268,792,658,296 SHIB
  • Tokens Burned in the Last 24 Hours: 11,696,177 SHIB (+367.39%)
  • Tokens Burned in the Last 7 Days: 320,801,772 SHIB (+916.7%)

The sharp rise in SHIB burn activity underscores the community’s ongoing commitment to promoting deflation within the ecosystem, a move that supports price stability and strengthens long-term investor confidence. This uptick in burns reflects growing optimism among SHIB holders, who view the deflationary mechanism as a catalyst for future growth.

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Price Trends and Market Sentiment

At the time of writing, Shiba Inu’s price has increased by 2.43%, reaching $0.00001929. However, despite the positive price action, investor interest has not significantly surged, with market volume down 9.96%, settling at $463.07 million.

Optimism remains strong within the Shiba Inu community, which is hopeful for further upward momentum if the asset maintains its current trajectory. However, there are persistent calls for the development team to address lingering concerns about fear, uncertainty, and doubt (FUD), which continue to weigh on the asset’s performance.

In a recent update, Shiba Inu’s marketing lead, Lucie, reassured the community that developers are actively working on multiple initiatives previously introduced by lead developer Shytoshi Kusama. Lucie also encouraged holders to dismiss exaggerated FUD narratives, which are often propagated by individuals with limited SHIB investments or conflicting interests in other tokens.

Upcoming Developments and Future Outlook

Among the key projects in development is the Shib DAO Foundation, an initiative that aims to overhaul the ecosystem’s governance structure. This project is expected to further solidify Shiba Inu’s position within the broader cryptocurrency landscape, potentially driving future growth and innovation.

The Shiba Inu community remains laser-focused on these advancements, looking ahead to the next phases of development while continuing to push for sustained token burns and increased deflationary pressure.

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