SHIB Burn Rate Soars 2,416% as Over 53 Million Tokens Destroyed in 24 Hours

Shiba Inu (SHIB) has experienced an extraordinary surge in its burn rate, with over 53 million tokens eliminated from circulation within a 24-hour period. According to Shibburn, the burn rate jumped by an astonishing 2,416.44%, signaling heightened efforts to reduce supply and potentially drive up the token’s value.

Several large transactions led this aggressive burn. The most significant transfer incinerated 23,068,929 SHIB, while two others removed 14,178,952 and 11,264,137 SHIB respectively. These three transfers accounted for the bulk of the burned tokens during the 24-hour window.

SHIB Price Reacts to Sudden Burn Surge

Following the rapid token burn, SHIB’s market price responded almost immediately. The token rose by 4.8%, climbing from $0.00001408 to $0.00001476. Such swift price movement reflects how tightly the coin’s value correlates with its supply mechanisms.

Over the weekend, SHIB also recorded a remarkable burn rate increase of over 22,662%. However, the total tokens destroyed were lower at 37,959,900 SHIB. In contrast, the recent 24-hour spike involved a much larger quantity of tokens, underscoring the burn campaign’s intensification.

Community Optimism Builds Despite Developer Silence

Although the SHIB development team has yet to comment on the latest burn wave, the SHIB community has already responded with enthusiasm. Traders and investors see the burn as a positive sign, hoping that ongoing reductions in supply will continue to strengthen the token’s price outlook.

As more tokens vanish, investors grow increasingly confident in SHIB’s long-term potential. The strategy of burning tokens to increase scarcity appears to be gaining traction. If demand keeps rising, this could push SHIB’s value higher over time.

The recent surge in SHIB’s burn rate has captured market attention and reignited bullish sentiment. While official insights from developers remain absent, the community’s reaction indicates strong expectations for future price gains if this aggressive burn momentum persists.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.