Shiba Inu Burn Rate Surges Over 1,500%, Yet Price Fails to Respond
- SHIB burn rate surged 1,500% in 24 hours, yet price remains under pressure.
- A single wallet burned over 17M SHIB, fueling most of the 34M tokens removed.
- RSI and MACD suggest weak momentum, with signs of possible trend reversal forming.
Shiba Inu’s token burn activity spiked dramatically this week, with the rate increasing by over 1,500% in the past 24 hours, according to burn tracking data. During this period, more than 34 million SHIB tokens were permanently removed from circulation in an effort to reduce overall supply.
Despite this deflationary action, the price of the meme coin remained under pressure, increasing investor concerns about whether supply adjustments alone can drive recovery during the wider market weakness.
Where Did the SHIB Burns Come From?
The bulk of the token burn came from a single wallet address, “0x541f60e5576,” which eliminated 17.13 million SHIB in one transaction. This pushed the day’s total burn count to over 34.2 million tokens.
Shiba Inu’s total burn amount now nears 410.73 trillion tokens, while roughly 584.36 trillion are reported to remain in circulation out of an approximate total supply near 589.25 t…
The post Shiba Inu Burn Rate Surges Over 1,500%, Yet Price Fails to Respond appeared first on Coin Edition.
Read More
SHIB Army Watches Closely: Descending Triangle Nears Apex
Chart Analysis: SUI Eyes Reversal, ICP Remains Pressured Below $5
Shiba Inu Burn Rate Surges Over 1,500%, Yet Price Fails to Respond
- SHIB burn rate surged 1,500% in 24 hours, yet price remains under pressure.
- A single wallet burned over 17M SHIB, fueling most of the 34M tokens removed.
- RSI and MACD suggest weak momentum, with signs of possible trend reversal forming.
Shiba Inu’s token burn activity spiked dramatically this week, with the rate increasing by over 1,500% in the past 24 hours, according to burn tracking data. During this period, more than 34 million SHIB tokens were permanently removed from circulation in an effort to reduce overall supply.
Despite this deflationary action, the price of the meme coin remained under pressure, increasing investor concerns about whether supply adjustments alone can drive recovery during the wider market weakness.
Where Did the SHIB Burns Come From?
The bulk of the token burn came from a single wallet address, “0x541f60e5576,” which eliminated 17.13 million SHIB in one transaction. This pushed the day’s total burn count to over 34.2 million tokens.
Shiba Inu’s total burn amount now nears 410.73 trillion tokens, while roughly 584.36 trillion are reported to remain in circulation out of an approximate total supply near 589.25 t…
The post Shiba Inu Burn Rate Surges Over 1,500%, Yet Price Fails to Respond appeared first on Coin Edition.
Read More
SHIB Army Watches Closely: Descending Triangle Nears Apex