The post Shiba Inu Burn Rate Soars 91,000% as Over 1B SHIB Destroyed appeared on BitcoinEthereumNews.com.

Key Notes Shibburn reported the torching of 1,007,280,237 SHIB at an increased burn rate of 91,090.91% This brings the total circulating supply to 584,556,562,838,190 SHIB tokens. Shiba Inu price is yet to reflect the aggressive burn, but optimism for a breakout is high. Shibburn, the dedicated burn tracker for the Shiba Inu SHIB $0.000012 24h volatility: 0.4% Market cap: $6.95 B Vol. 24h: $118.25 M token, indicates that 1,007,280,237 tokens were burned over the last 24 hours. This is accompanied by a surge in burn rate worth 91,090.91% within the same period. It is worth noting that this burn rate spike has sparked speculations about a potential price rally. So far, a total of 410,751,242,121,923 SHIB has been burnt from the initial supply of 999,982,339,016,714 SHIB. This leaves the ecosystem with a circulating supply of 584,556,562,838,190. Latest SHIB Burn Transactions | Source: Shibburn While it is expected that any reduction in the circulating supply of a digital asset or increased scarcity would trigger a price gain, the current aggressive burn has yet to translate into such for SHIB. Shiba Inu Price to Yield to the Bears or Bulls? At the time of writing, the token was trading at $0.00001174, having lost 1.17% of its market value over the past 24 hours. Its trading volume and market capitalization have not performed any better than the price. The SHIB market cap is now pegged at $6.91 billion, while its 24-hour trading volume stands at $110.89 million, following a 15.85% decline. Some analysts have identified a potential bullish trend for the SHIB price, citing technical indicators and certain fundamental factors. These market experts strongly believe that SHIB is poised to break above a long-standing descending trendline. They have highlighted the price continued retrace for the horizontal support zone near $0.00001000, which has acted…

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Filed under: News - @ July 8, 2025 11:29 am