Shiba Inu’s burn rate surged by more than 910% over the past 24 hours, as the meme coin community sent approximately 4.36 million SHIB tokens to dead wallets. The increased burn activity is part of the ecosystem’s ongoing deflationary strategy aimed at reducing circulating supply and supporting long-term price stability.
SHIB Price Remains Under Pressure
Despite the sharp increase in token burns, SHIB has failed to post immediate gains. At the time of writing, the token is trading at $0.00000857, reflecting a 1.58% decline over the past 24 hours. Bulls are attempting to defend current levels while targeting a move toward the $0.00001 psychological resistance.
Trading activity remains relatively strong, with 24-hour volume reaching $179.96 million, marking an 8.08% increase compared to the previous session.
Supply Reduction Continues Across the Ecosystem
Data from Shibburn indicates that a total of 410.75 trillion SHIB tokens have been permanently removed from circulation since the project’s launch. As a result, the total supply now stands at 589.24 trillion tokens.
Of this amount, approximately 585.40 trillion SHIB are currently in circulation. An additional 3.83 trillion tokens remain staked and locked within the ecosystem, making them unavailable for active trading.
Burn Activity Fails to Reverse Short-Term Decline
The recent deflationary push has not been enough to halt SHIB’s short-term downward movement. Over the last 24 hours, the token traded within a narrow range, fluctuating between $0.000058491 and $0.000059009, as traders reacted to ongoing market uncertainty.
Market participants appear to be taking profits after SHIB failed to break through key resistance levels, limiting upside momentum despite the surge in burn activity.
Broader Meme Coin Weakness Weighs on SHIB
Exchange flow data points to increasing selling pressure across the broader meme coin sector. Several major meme tokens have posted losses during the same period, and SHIB has followed the wider market trend.
Analysts note that burn mechanisms alone may not be sufficient to drive price appreciation in the short term, particularly when overall market sentiment remains cautious.
Long-Term Outlook Hinges on Market Conditions
The Shiba Inu community has long promoted token burns as a way to create scarcity and enhance long-term value. While supporters remain optimistic that continued supply reductions will benefit the token over time, price action continues to be shaped primarily by broader market dynamics and trader sentiment.
The latest spike in burn rate highlights the community’s commitment to deflationary efforts, which work alongside staking programs that further reduce liquid supply. Whether these measures translate into sustained price recovery remains dependent on market conditions in the coming weeks.