Key Notes
- SHIB burn rate went up by 217% over the last 24 hours as many ecosystem metrics dropped.
- 4,971,698 SHIB were permanently removed from circulation.
- However, the SHIB price has failed to react accordingly, shifting focus to Maxi Doge.
Shibburn, the dedicated burn tracker for the Shiba Inu
SHIB
$0.000009
24h volatility:
2.4%
Market cap:
$5.16 B
Vol. 24h:
$239.20 M
ecosystem, revealed that the burn rate has increased by 217% over the last 24 hours. As a result, 4,971,698 SHIB have been permanently removed from circulation, adding to the already large number of burnt tokens. Surprisingly, the SHIB price has shown no positive reaction to this burn action.
SHIB Price Fails to Follow Increased Burn Rate
As of Dec. 4, the SHIB burn rate is one of the few metrics in the Shiba Inu ecosystem that has flipped positive.
Altogether, the second-largest meme coin has recorded the burning of 410,753,835,277,822 SHIB from the initial supply. Notably, there are still 585,267,763,742,129 tokens left in circulation
With this magnitude of supply crunch, the expectation is that the SHIB price will jump, following the economic principle of supply, demand, and price. For perspective, it states that a shrink in supply combined with steady or rising demand would drive the value of an asset higher. Currently, this is not the case with SHIB price performance.
Related article: Shiba Inu Price Surges 8% as Shibarium Hacker Evidence Reaches FBIAccording to CoinMarketCap data, SHIB has a market value of $0.000008783 at press time, corresponding with a 1.75% dip within the last 24 hours
It is not yet clear if this is a long-term issue, but it is likely to be attributed to the fluctuation in market sentiment. As Bitcoin makes a recovery move, it seems to have dragged altcoins backward.
Meanwhile, SHIB’s 24-hour trading volume looks good after soaring by 40.8% $233 million.
Join the MAXI DOGE Presale Today
Crypto enthusiasts are hopeful that the SHIB price will improve very soon, but until then, Maxi Doge (MAXI) is gaining traction and enjoying the limelight
This digital asset project has grown in such a short time. So far, its ongoing project presale has successfully raised a total of $4,271,025.47. This is an indication that investors perceive its long-term potential and are willing to invest their funds.
With this positive momentum, it is now ranked among the best crypto presales of 2025
The official presale website indicates that the token price is set to be adjusted in about 2 days and 14 hours. Purchases can be completed using credit or debit cards, as well as cryptocurrency.
nextDisclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
