Shiba Inu (SHIB), the popular meme coin, is back in the spotlight as its burn rate surged an astonishing 984.58% on Saturday, removing nearly 17 million tokens from circulation within 24 hours. According to data from the official Shibburn tracker, this dramatic spike has significantly reduced the token’s circulating supply, reinforcing bullish sentiment among traders and investors.
HOURLY SHIB UPDATE$SHIB Price: $0.00001211 (1hr -0.23% ▼ | 24hr 1.90% ▲ )
— Shibburn (@shibburn) April 12, 2025
Market Cap: $7,143,004,744 (1.93% ▲)
Total Supply: 589,252,243,154,622
TOKENS BURNT
Past 24Hrs: 16,943,184 (984.58% ▲)
Past 7 Days: 79,504,387 (-57.6% ▼)
The latest statistics show that approximately 410.74 trillion SHIB tokens have been burned to date, while the current circulating supply stands at around 584.37 trillion. Two wallet addresses—“0xa9d1e08c7” and “0xa20833”—were responsible for the majority of Saturday’s burns, incinerating 10 million and 4.3 million SHIB tokens, respectively.
This sharp contraction in supply has excited the Shiba Inu community, who believe that continued burns, even amid steady demand, could catalyze a substantial price rally. Market dynamics rooted in basic economic principles—limited supply potentially driving up value—have begun playing out in real-time.
The market has already reacted. SHIB prices climbed over 3% in the past 24 hours, rising from a low of $0.00001183 to $0.00001220 at the time of writing. This uptick mirrors the broader crypto market’s positive momentum, with Bitcoin reclaiming the $83,000 level, prompting a ripple effect across altcoins and meme tokens.
Also Read: Shiba Inu Burn Rate Plunges 82% — Is a Major SHIB Breakout on the Horizon?
Adding to the bullish fervor, prominent community figure SHIB Knight took to X, expressing confidence in a short-term target of $0.00001570 for SHIB. His post has further energized the community, with many speculating that this target could soon be within reach if burn activity continues at such a pace.
As optimism surges, all eyes are now on Shiba Inu’s burn rate and its potential to drive the next breakout. With community backing and market alignment, SHIB may be on the brink of another historic rally.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
