Shiba Inu’s (SHIB) burn rate has captured investor attention amid broader market turbulence. On February 27, over 30 million SHIB tokens were burned, triggering a 1306% surge in the burn rate. This aggressive reduction in circulating supply has fueled bullish sentiment, with analysts predicting a potential 450% price pump for the popular meme coin.
Shiba Inu Burn Rate Spikes: What’s Driving the Surge?
According to data from Shibburn, a leading burn tracker, SHIB’s burn rate witnessed an unprecedented spike as millions of tokens were sent to null addresses, permanently removing them from circulation. This deflationary mechanism plays a crucial role in enhancing Shiba Inu’s tokenomics by decreasing supply and potentially boosting demand.
HOURLY SHIB UPDATE$SHIB Price: $0.00001434 (1hr -0.55% ▼ | 24hr 0.35% ▲ )
— Shibburn (@shibburn) February 27, 2025
Market Cap: $8,447,369,087 (0.34% ▲)
Total Supply: 589,255,346,351,380
TOKENS BURNT
Past 24Hrs: 30,156,987 (1306.07% ▲)
Past 7 Days: 142,062,714 (50.8% ▲)
Since its inception, Shiba Inu’s burn initiative has led to the removal of 410.744 trillion tokens. As of now, SHIB’s circulating supply stands at approximately 584.32 trillion. February alone saw a cumulative burn of 257.65 million tokens, reflecting consistent community engagement in reducing supply.
SHIB’s Price Momentum Amid Market Volatility
Despite broader market uncertainty, SHIB’s price has shown resilience, outperforming major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). On February 27, SHIB’s value surged by 3%, reaching $0.00001469, with intraday highs and lows of $0.0000147 and $0.00001377, respectively.
Prominent community member SHIB KNIGHT pointed out on X that SHIB managed to defy market trends while BTC and ETH struggled following new EU tariff announcements by Donald Trump. This divergence underscores SHIB’s growing strength as a leading meme coin.
Will Shiba Inu Reach $0.000081?
Top crypto analyst Javon Marks believes that SHIB is on track for a significant rally. According to Marks, the coin’s breakout pattern from late 2022 to early 2023 remains intact. If SHIB continues to maintain its bullish trajectory, a price target of $0.000081—representing a 450% increase—could be on the cards.
Also Read: Shiba Inu (SHIB) Drops Below Key Support – Is a 400% Rally Still Possible?
With strong community support, an accelerating burn mechanism, and bullish market indicators, Shiba Inu could be poised for a substantial price rally. Investors will be closely watching the meme coin’s next moves as the burn rate continues to surge.
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.
