Shiba Inu (SHIB) has once again caught the attention of traders and investors, as its burn rate soared by a staggering 3200% on Saturday. The latest burn data indicates that approximately 30 million SHIB tokens were permanently removed from circulation, fueling expectations of a potential price rally despite broader market volatility.
Shiba Inu Burn Rate Hits New Highs
According to data from Shibburn, the SHIB burn rate skyrocketed by 3252% in the past 24 hours, marking one of the most significant burn events in recent weeks. A total of 29.32 million tokens were sent to a null address, effectively reducing the meme coin’s circulating supply. This deflationary mechanism has long been a key factor in Shiba Inu’s tokenomics, with market participants closely watching for burn rate spikes as potential bullish signals.
The ongoing token burns align with the principles of supply and demand economics—reducing the available supply often leads to an increase in value if demand remains strong. As of now, Shiba Inu’s circulating supply has dwindled to 584.34 trillion tokens, while a massive 410.49 trillion coins have been burned to date.
SHIB Price Eyes a 50% Surge
In addition to the burn event, market optimism received a further boost after top crypto analyst Ali Martinez suggested that SHIB could soon rally to $0.000020. The token is currently holding above a critical support level at $0.000013, and if buying pressure intensifies, a surge of over 50% from current levels could materialize.
Despite the bullish sentiment, SHIB traded at $0.00001296 at press time, marking a slight 2% dip over the past 24 hours. Intraday price movements saw the token bottoming at $0.00001295 and peaking at $0.00001367. However, traders remain hopeful that the burn mechanism, coupled with broader pro-crypto developments, could propel SHIB higher in the near term.
Speculation on U.S. Crypto Stockpile Inclusion
Adding to the excitement, speculation is mounting over SHIB’s potential inclusion in the U.S. crypto stockpile. While no official confirmation has been provided, the recent establishment of a Bitcoin strategic reserve and discussions at the White House crypto summit have left the market buzzing with optimism.
Also Read: Shiba Inu Burn Rate Soars 1300%, Analyst Predicts SHIB to Hit $0.000081
As SHIB’s burn rate accelerates and market-wide bullish sentiment grows, investors eagerly await the next move in the meme coin’s price trajectory. Whether the surge materializes or not, one thing is certain—Shiba Inu remains a focal point in the ever-evolving crypto landscape.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of CoinBrief.io. Before making any investment decisions, you should always conduct your own research. Coin Brief is not responsible for any financial losses.
