- ShibaInu (SHIB) saw a massive 12,285.94% spike in its burn rate, with over 12 million tokens destroyed in just 24 hours, signaling renewed commitment to its deflationary strategy.
- While the price hasn’t reacted yet, the surge in burns could pave the way for a short-term recovery if market sentiment shifts.
A Sudden Spike in SHIB Burn Rate Grabs Market Attention
Shiba Inu (SHIB) has shocked the crypto community with a massive increase in its burn rate, even as broader market sentiment remains bearish.Shibburn data shows that the community burned over 12,385,936 SHIB tokens on June 20 alone, reflecting a staggering 12,285.94% surge in the token’s daily burn rate.
This development comes after weeks of sluggish burn activity, marking a sudden and dramatic reversal. With SHIB’s circulating supply now reduced to approximately 584.5 trillion tokens, the meme coin’s deflationary narrative is once again gaining traction among holders.
Why the Burn Matters for SHIB’s Future
Token burns have long been a cornerstone of SHIB’s roadmap, intended to create scarcity and potentially increase token value over time. By permanently removing tokens from circulation, the SHIB team and its loyal community aim to drive upward pressure on price in the long term.
The recent spike in burns could suggest a return of interest or utility-based transactions involving SHIB. Analysts often interpret such metrics as bullish, especially when accompanied by rising on-chain activity.
Price Action Remains Muted—For Now
Despite the explosive burn rate, ShibaInu price has yet to react, continuing to trade in the red along with the broader market. However, the sudden deflationary pressure could set the stage for a short-term price rebound if investor sentiment shifts.
Holders remain cautiously optimistic, interpreting the latest burn as a sign of renewed commitment from the project’s developers. If the burn momentum continues and macro sentiment improves, SHIB could be primed for a potential breakout.
ShibaInu Gearing Up for a Rally?
While the immediate market response has been muted, the impressive 12 million token burn serves as a powerful reminder of SHIB deflationary strategy. With circulating supply shrinking and on-chain signals flashing green, the meme coin may soon experience a price revival—should the market catch up to the hype.
