Usman Salis
Shiba Inu (SHIB), the Ethereum-based meme token, continues its recent rally with strong daily gains, even as its token burn rate sees a sharp decline. Investors are watching closely as the price action and on-chain data signal mixed momentum.
SHIB Price Climbs to $0.00001379 Amid Market Strength
At the time of writing, the SHIB price is $0.00001379, marking a 0.91% decline in the past hour, but a robust 7.34% gain over the last 24 hours. This performance has pushed SHIB’s market capitalization to $8,024,870,834, reflecting a 9.76% increase.
The bullish move has reignited interest in the memecoin sector, with SHIB leading gains among large-cap altcoins.
Token Burn Rate Drops 81% — A Warning Sign?
While the price surges, the SHIB burn rate has plummeted, raising questions about supply-side pressure. In the last 24 hours, just 3,670,642 tokens were burned — a drop of 81.13% from previous periods.
With a total supply of 589,248,723,216,564 SHIB, the reduced burn activity could affect future price appreciation unless offset by sustained demand or ecosystem growth.
Usman Salis
